These views persist even as Bitcoin briefly climbed to just below $75,000 on Tuesday, l
Bitcoin News
Several crypto analysts are maintaining that Bitcoin has not yet hit its cycle bottom and that a flush down to $50,000 remains possible before any sustained recovery takes shape.
Trader and author Ivan Liljeqvist said on X Tuesday that Bitcoin has yet to experience "the big flush." He said the $60,000 level was not the bottom, that the trend remains down, and that the bounces seen so far are small relative to broader price movement. The strength seen during past bull markets, he added, "is just not here right now."
Analyst Merlijn Enkelaar posted that Bitcoin may be entering a second bear market phase following accumulation, and that a "manipulation phase" could push the price down to $50,000 before a subsequent distribution phase begins. A separate analyst using the handle "symbiote" described Bitcoin as "super bearish" on high time frames and said a "final huge dump" to either $59,000 or $50,000 is still ahead.
Analyst "Jelle" identified a bearish flag chart pattern still active as of Monday, a formation that typically signals further price declines. These views persist even as Bitcoin briefly climbed to just below $75,000 on Tuesday, lifted by hopes for a diplomatic resolution to ongoing geopolitical tensions that have weighed on global markets.
Nick Ruck, director of LVRG Research, told Cointelegraph that the $50,000 level is widely viewed as "the last significant accumulation zone before any sustained recovery," describing a drop to that level as a healthy cycle reset under current macro pressures. He added that a flush to that level "could potentially set up for stronger bullish momentum once the flush concludes," but noted that institutional participation is creating consistent buying pressure at current levels.
Ruck also said Bitcoin is already down roughly 40% from its last all-time high, and that previous retail-driven cycles produced drawdowns of 77% to 82%. He suggested this cycle may not reach an idealized 60% drawdown given the more macro-structured nature of current markets.
Fidelity Digital Assets made a similar observation earlier this month, noting that downside risk in 2026 has been less dramatic compared to prior cycles. Whether institutional buying floors hold or give way to a deeper flush remains the central question among analysts tracking Bitcoin right now.
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