Bitcoin Defies Expectations, Climbs Above May High as Analyst Shifts Stance
Bitcoin's price has been on an upward trend since June, with every month-end higher than the previous one. According to data from Koyfin, Bitcoin closed at a low of 48.85% below its October 1, 2025 level in June, but has since recovered, finishing July 45.13% below, August 31.21% below, and September 27.05% below.
Analyst Ben Cowen recently changed his stance on Bitcoin's price, saying he 'certainly didn't think' it would take out its May high this year. In an interview with Real Vision, Cowen stated that the setup matches how past bear markets ended and that he doesn't think it has ever failed for Bitcoin.
Cowen also noted that Bitcoin's four-year cycle low may have come in July, making it the earliest such low on record. He added that a stock market correction could still pull Bitcoin lower, but 'I wouldn't be calling for a new low at that point.'