Key Takeaways
- Bitcoin has formally fallen right into a bear market after a 20% drop from its October 2023 excessive.
- Elliott Wave analysts forecast the bear market may final till late 2026.
Bitcoin formally entered bear market territory at present after declining greater than 20% from its October peak, in line with The Kobeissi Letter.
Elliott Wave analysts anticipate the bear market will persist via late 2026, signaling an prolonged interval of downward stress for the main cryptocurrency.
The latest value drop eliminated extreme leverage from the market, in line with blockchain analytics, although this deleveraging may set the stage for continued volatility throughout the bearish section.
Regardless of the broader downturn, some Bitcoin holders have been accumulating throughout the value decline, suggesting some underlying shopping for curiosity amid rising considerations of a brand new crypto winter.
