Analysis Company Says “Bitcoin (BTC) Has Halved Its Bear Market!” and Reveals Possible Bottom Levels!

Bitcoin (BTC) continues to experience sharp declines, and according to the data, a full-blown bear market is underway.

At this point, experts say there is no doubt that Bitcoin is in a bear market, while the analytics company Kaiko claims in its latest report that the bear market has halved.

In its latest report, Kaiko Research stated that Bitcoin’s recent drop, which saw it test $60,000, may have halved the bear market.

Kaiko analysts argued that Bitcoin’s recent sharp correction represents a critical “turning point” in the current bear market.

According to analysts, the recent decline indicates that the market has emerged from the euphoric post-halving rally and entered a new phase.

This period refers to what Kaiko has historically described as a typical bear market period, lasting approximately 12 months before the start of an accumulation phase.

As doubts about Bitcoin being in a bear market diminish, the most important question for investors is whether the price has hit bottom with the drop to $60,000.

This level approximately coincides with Bitcoin’s 200-week moving average, which has historically served as long-term support.

However, Kaiko predicts this isn’t the bottom. Kaiko analysts noted that a 52% pullback from Bitcoin’s previous ATH is shallow and small compared to previous bear market cycles.

At this point, according to Kaiko analysts, a 60% to 68% pullback in Bitcoin would more closely align with historical lows. This means Bitcoin would bottom out around $40,000 to $50,000.

*This is not investment advice.

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