Bitcoin's recent ability to maintain its position above the $80,000 threshold has sparked discussions about the potential end of its current correction phase. However, a prominent crypto analyst has raised concerns, suggesting that the monthly chart may tell a different story. According to the results published in the material, there are indications that the cryptocurrency could face further declines in the near future.
Historical Trend of Bitcoin's Bear Market Bottom
The analyst's insights, shared on X, reference a historical trend where Bitcoin typically does not establish a bear market bottom until it has recorded nine consecutive red monthly candles. This pattern was notably observed during the downturns of 2018 and 2022, where Bitcoin experienced substantial declines before eventually finding its lowest point.
Current Market Sentiment and Caution
Despite Bitcoin closing March and April with positive gains, experts urge caution. The recent bounce above $80,000 should not be interpreted as a definitive signal for the onset of a new bull market. The prevailing sentiment in the market remains cautious, with analysts warning that further declines could still be on the table, potentially lasting into the fourth quarter of 2026.
Recently, BNB has shown significant price fluctuations, stabilizing around $650 after a notable rejection from higher levels. This development contrasts with Bitcoin's current position above $80,000. For more details, see further insights.
