Bitcoin is trading near $70,000 due to ETF outflows and continued weak market sentiment. Analyst Benjamin Cowen warns that the current trend mirrors past bear market cycles, such as those in 2014, 2018, and 2022. He points out that Bitcoin prices typically bottom out in February and rebound into March, then weaken, often leading to further declines—a recurring pattern. While prices may rise in the short term, Cowen believes further downside is more likely, as April has historically been a period of panic selling in markets. He states that true market bottoms typically only form after widespread panic selling occurs, which has not yet fully materialized at this time.