Analysts' predictions about the future fate of Bitcoin are mixed, but many tend to believe that the local bottom is near. The user under the name Zizcrypto noticed: from the historical peak, the first cryptocurrency fell by 39%. By comparison, in previous periods the bear bear has been more severe - it plummeted to 86% in 2015, 83% in 2018, and 76% in 2022. The author believes that, over time, the depth of draughts decreases as the market matures, but the current situation does not yet repeat classic cyclical lows.

Michael van de Poppe, the head of MN Trading, said that Bitcoin had already passed the point of surrender. He lists the arguments: 11 indicators point to the best five-year time to buy; the funding rate has gone downward, indicating a dominance of short positions; and the basis of three-month futures has collapsed to levels not seen since late 2022. According to the expert, there are almost no longer long positions with the shoulder, and all those who wanted to sell have already left. Indirect confirmation - inflow of $1.5 billion in spot Bitcoin ETFs since mid-April.

Jurrien Timmer, director of macro research at Fidelity, added that Bitcoin is now trying to break the upper boundary of the so-called "bear flag." Logically, in a rising trend, overbuying indicates market strength rather than imminent decline. If the coin manages to stay at its current levels despite resistance, it will signal a new phase of growth.

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The material is prepared solely for informational purposes and does not constitute a financial advice or recommendation.