Bitcoin (BTC) is currently undergoing significant declines, signaling the onset of a pronounced bear market according to recent data.
Experts now widely agree that Bitcoin has entered a bear market phase. The analytics firm Kaiko, in its newest report, suggests that this downturn may have reached its midpoint.
Kaiko Research highlights that Bitcoin’s recent drop to near $60,000 could represent the halfway mark of the ongoing bear market cycle.
The analysts at Kaiko describe this sharp correction as a pivotal “turning point” within the current bearish trend.
This decline marks an end to the exuberant rally following Bitcoin’s halving event and ushers in what they identify as a typical bear market stage.
Historically, Kaiko notes such phases last around 12 months before transitioning into an accumulation period for investors.
“The 32% decrease in Bitcoin's price stands as the most substantial correction since the 2024 halving. This drop might signify the midpoint of this bear market.”
With skepticism about Bitcoin being in a bearish cycle fading away, investors are now focused on whether $60,000 represents a bottom for BTC prices.
This price level closely aligns with Bitcoin’s 200-week moving average—a key long-term support benchmark historically observed by traders and analysts alike.
Nevertheless, Kaiko forecasts that this is unlikely to be the ultimate low. Their analysis points out that a retracement of just 52% from previous all-time highs is relatively modest compared to past cycles’ depths.
The firm anticipates that for BTC prices to truly reach historical lows consistent with earlier patterns, declines between 60% and 68% would be expected—translating roughly into values ranging from $40,000 down to $50,000 per coin.
*Please note: This content does not constitute financial advice.*