Bitcoin's Bottom May Be Months Away, Analyst Warns

Bitcoin's price has been hovering near its lowest levels since late 2024, and some market observers believe that the flagship crypto may not have reached its bottom yet.

Analyst Rekt Capital pointed out in a recent video analysis on X that BTC's deviations from previous all-time highs (ATHs) could serve as key reference points for this assessment. The analyst noted that Bitcoin bottomed 22% from the 2017 peak during the last cycle's correction, while it is currently trading roughly 14% below the 2021 peak of $69,000.

However, Rekt Capital emphasized that this metric alone 'doesn't represent the mosaic of data that we need to be paying attention to.' The analyst stated that the length of previous bear markets is a crucial indicator to factor in, noting that historically, Bitcoin bear markets tend to last at least one year, sometimes extending beyond that.

The current pullback has lasted about 240 days so far, which would depart from historical behavior and make it significantly shorter than previous cycles if the bottom is already in or close. If the current cycle follows a similar timeline to previous ones, BTC could have at least 120 days left in its corrective phase, with the bottom likely occurring around October.