Bitcoin Price Slump Triggers Debate Over Bear Market Bottom
Bitcoin's recent price action has sparked debate about whether it has reached its bear market low. The cryptocurrency has suffered a significant correction from its October record high near $126,080, now trading around the low-$60,000 range.
Analysts are divided on the potential bottom of Bitcoin's cycle, with targets ranging from $28,000 to $59,000. VanEck believes the decline is consistent with previous halving-cycle corrections, which have historically been followed by powerful post-halving rallies.
VanEck uses the GEO framework to assess Bitcoin's market health, tracking global liquidity, ecosystem leverage, and on-chain activity. Two signals currently remain neutral, but ecosystem leverage sits in constructive territory, viewed as early evidence of a possible bottom.
CryptoQuant provides another reason for cautious optimism, with adjusted Net Unrealized Profit/Loss data showing that long-term holders now carry deeper unrealized losses than the broader market participants.