Crypto analyst Benjamin Cowen believes that Bitcoin (BTC) may be approaching the conclusion of its bear market phase.
In a recent YouTube update, Cowen suggests that Bitcoin is likely in the third and final phase of a downtrend, a period when BTC typically begins to form a market bottom based on historical trends.
“My stance right now is that we are indeed in the third stage of the bear market. I expect this phase to last roughly as long as the first two stages combined. Therefore, I anticipate this stage will extend from June 2026 to October 2026, during which a significant majority of participants will still believe we’re in a bear market.”
In the short term, Cowen anticipates that Bitcoin might revisit the $50,000 range in June before potentially having a breakout next month.
“Considering the patterns observed in 2018, we should aim to stay above the previous low. You could argue that sustaining around $57,000 or $58,000 would be acceptable, but it’s essential to maintain support there, perhaps even establish a short-term higher low. This would set the stage for a rally in July. We’ll keep an eye on where that June low lands.”
As of the latest update, Bitcoin is trading at $62,047, remaining stable for the day.
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