Bitcoin Analyst Sees Significant Downside Potential Ahead

A recent technical analysis by Crypto Con on X suggests that Bitcoin has not yet reached its cycle bottom. Using the Bear Bands and Halving Cycles Theory, the analyst argues that while a short-term bounce is currently playing out, the broader bear market still has significant time and more downsides ahead before reaching a final price floor.

The analysis draws on Bitcoin's full price history dating back to 2011, mapping out recurring bear market sequences that have played out across every major cycle. Each of those cycles followed a consistent three-stage structure, moving through a first low, a second low, and a final cycle bottom before any sustained recovery took hold.

Based on this sequence, Crypto Con projects a second low near $44,500 and a final bottom around $28,500. With current prices currently holding above $72,000, a drop to $28,500 would represent a staggering decline of more than 60%.