Bitcoin Plunges To $62,000: Is The Worst Of The Be
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Bitcoin Plunges To $62,000: Is The Worst Of The Bear Market Still To Come?
Bitcoin (CRYPTO: BTC) is down 6% over the past week as analysts discuss whether the downturn may be closer to its conclusion than its beginning.
Bitcoin has effectively retraced much of its 2024-2025 cycle gains, leaving many investors questioning whether they are “bag holders with a dream but no reality.”
However, some market observers argue the weakness has less to do with BTC itself and more to do with capital chasing artificial intelligence opportunities.
Technical analyst CryptoCon cautioned that historical cycle-bottom indicators have not yet reached levels seen during previous bear-market lows.
He noted that Bitcoin’s Realized Market Cap moving average model still points toward a potential bottom around $42,500, implying a decline of roughly 66% from the cycle peak.
Also, bear markets are getting less severe by percentage drawdown (86%, 84%, 77%), but cycle-bottom data remains largely unchanged across cycles.
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