Why is it said that $60,000 is not the bottom for Bitcoin?

With the recent price of Bitcoin stabilizing at $70,000 and moving sideways for a while, there is a clear divergence in views on the future market trend, with some being bullish and others bearish.

To summarize, there are roughly two viewpoints. The first view holds that the $60,000 level in February this year was the bottom of this bear market, and a gradual recovery will begin in the second half of the year.

The second view believes that the 4-year cycle is still valid, and the current situation is just a bear market decline followed by a rebound, with the real bottom yet to come.

I lean towards the latter; $60,000 is not the bottom. Many people say that the rebound from $60,000 to $79,000 seems to indicate stabilization and a rebound.

However, if you observe the patterns of the bottoms in the previous two bear markets, they were all U-shaped. When the price rose on the right side, the market movement was very direct and decisive, with several consecutive large bullish candles confirming the start of the bull market.

But this time, the upward movement has been hesitant, not decisive. Moreover, when it reached the $78,000 level, it encountered strong resistance, giving the feeling that it's struggling to rise further, more like the late stage of an uptrend.

Let's compare it with the trend that peaked in October 2025; they look somewhat similar.

Therefore, the current rebound looks more like a pause in the decline rather than the bottom of the bear market. In terms of time, a bear market wouldn't be as short as just 7 months. In terms of price decline, it wouldn't be as little as only 50%.

I know that every time I say this, some people call it "looking for a sword from a boat's mark." Those who believe in this pattern have already made a fortune, while those who didn't were trapped at the peak last year. Which one do you choose?

Buying Bitcoin on October 6, 2026, will be your closest opportunity to financial independence. The crypto market is in a bear market, and there are still 162 days until the bottom of this Bitcoin bear market cycle.

Bitcoin price at the time of posting: $77,800

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