Bitcoin’s price has dropped nearly 50% from its all-time high set in October last year, before consolidating around $65,000, a 16% rise from the multi-year low below $58,000 recorded in early July. Analysts like Ali Martinez, Michael van de Poppe, and Merlijn The Trader believe the market may have already found its bottom, with some predicting potential rallies to $400,000. Whale activity and institutional interest support this bullish view, as spot Bitcoin ETFs have recorded five consecutive green days, prompting major issuers like BlackRock and Fidelity to purchase real BTC from the market. However, Strategy’s sale of Bitcoin, a company that had long adhered to a « only buy, never sell » strategy, represents a significant bearish signal, and veteran trader Peter Brandt leans toward a decline. The four-year cycle suggests a potential bottom between October 4 and October 17, though August has historically been a poor month for the cryptocurrency.
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