The recent recovery of BTC looks more like a temporary bounce rather than a sustainable rebound, with demand still weak.
According to CryptoQuant, $BTC is currently approaching the 365D MA line, where the rally in the 2022 bear market was rejected, and the market continued to decline sharply until the end of 2022.
Market sentiment has improved, but indicators still show that the market has entered a bearish phase.
In the previous cycle, $BTC declined over 77.5% from its peak $69k and bottomed out around $15k at the end of 2022. If in 2026 $BTC drops 50%, the price would be around $60k; a 60% decline would bring the price to about $50k; and a 70% drop would push the price below $40k.
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Recovery momentum in a Bear market?
The recent recovery of BTC looks more like a temporary bounce rather than a sustainable rebound, with demand still weak.
According to CryptoQuant, $BTC is currently approaching the 365D MA line, where the rally in the 2022 bear market was rejected, and the market continued to decline sharply until the end of 2022.
Market sentiment has improved, but indicators still show that the market has entered a bearish phase.
In the previous cycle, $BTC declined over 77.5% from its peak $69k and bottomed out around $15k at the end of 2022. If in 2026 $BTC drops 50%, the price would be around $60k; a 60% decline would bring the price to about $50k; and a 70% drop would push the price below $40k.