Cryptocurrency analyst React Capital says Bitcoin (BTC) may not have reached the bottom of a bear market, arguing that historical market cycles suggest there is still further downside ahead.
In new YouTube videoThe analyst says the current market has similarities to Bitcoin’s 2022 bear market while also exhibiting characteristics seen during previous cycles.
According to Rekt Capital, macro downtrends that follow breakouts from descending triangle patterns have historically led to extended periods of downtrend.
While the recent decline has been sharp, the analyst says a short-term rally is possible before another period of consolidation.
“This is likely to be another redistribution range like what we’ve seen here…in search of a new bear market bottom.”
Rekt also compares the current cycle to previous bear markets using the number of days since the market peak.
He points out that Bitcoin is about 270 days from its peak in 2025, while previous cycles typically took about 365 days to reach the bottom of a bear market.
“By 2022 standards… we’re not quite close to the bottom… there’s still time and there’s still volume to the downside.”
He adds that at a similar point in the 2018 and 2014 cycles, Bitcoin had not yet broken out of similar macro chart patterns.
Based on those historical comparisons, Rekt Capital says it is “a bit too early” to conclude that Bitcoin is nearing a bottom, adding that “if the current cycle continues to follow historical trends.
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