Bitcoin's Bear Market May Not Be Over Yet, Expert Warns

Bitcoin's recent surge to $65,000 has led some to believe that it may be entering its final stretch of bear market weakness. However, crypto expert Benjamin Cowen argues that history suggests one more shakeout may be coming before establishing the cycle bottom.

Cowen notes that Bitcoin continues to behave similarly to previous four-year cycles, with notable similarities in peak and trough dates. The latest cycle peaked around day 1,059, mirroring the previous two cycles, which topped at days 1,069 and 1,059 respectively.

According to Cowen, the current bear market is roughly 25% of its expected duration, with a potential bottom window between late September and mid-December. He also suggests that October could be a plausible scenario for the next major bottom.