Bitcoin has fallen 25.98% this year, with its market capitalization stripped by $665 billion to stand at $1.29 trillion. Joao Wedson, market analyst and founder of Alphractal, forecasts the bottom around October, approximately two months away, based on historical cycles showing an average duration of 382 days for the last three bear markets. Pseudonymous analyst FrankAFetter anticipates an upcoming breakout, but Bitcoin must first clear the sell wall between $64,000 and $65,000, then reclaim $82,000 for any sustained rally.
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