Crypto analyst Benjamin Cowen thinks Bitcoin (BTC) is nearing the tip of the bear market.
In a brand new YouTube replace, Cowen says that Bitcoin is probably going within the third and last stage of a downtrend when BTC begins to type a market backside based mostly on historic priority.
“My argument now’s that we’re, in actual fact, in stage three of the bear market. I consider this stage will final roughly the identical size as the primary two levels. So this one, for my part, will take us from June of 2026 to October of 2026, and that’s stage three of the bear market, the place arguably at this level a majority of the individuals do consider it’s a bear market.”
Within the close to time period, Cowen thinks Bitcoin could revisit the $50,000 vary in June earlier than having a breakout subsequent month.
“If you take a look at 2018, you wouldn’t wish to go that a lot under [the prior low]. You possibly can argue $57,000, $58,000 that may be okay, however you’d wish to see it proceed to carry assist, perhaps transfer up, get a short-term greater low, after which it units you up for a rally in July. So we’ll see the place that June low is available in.”
Bitcoin is buying and selling for $62,047 at time of writing, flat on the day.
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