Bitcoin's Cycle Bottom May Have Been Near $58K, Experts Agree

Bitcoin's cycle bottom may have been near $58,000, according to James Check, founder and lead analyst at Checkonchain. He made this statement on Cointelegraph's Proof of Thesis show.

The price of Bitcoin peaked just above $126,000 in October 2025 and has since dropped to around $77,400, a decline of about 39%. Check identified two capitulations: one near $60,000 in February and another near $58,000 in June and July. He emphasized that the difference between these two points is not significant, stating 'What's the difference between $58,000 and $59,000 or $60,000? Nothing. It's the six months that separated them. That's the actual difference.'

Check pointed out that a large amount of wealth, roughly $300 billion in cost basis, was trapped between $58,000 and $70,000. During the rebound, around 4 million BTC flipped from loss to profit.

Grayscale head of research Zach Pandl agreed with Check's assessment, saying 'I'm willing to stick my neck out and make a guess that prices bottomed back at $58,000 at the end of June.'