Several major cryptocurrency exchanges have announced shutdowns in recent days: BitMEX will cease operations on September 23, BitMart will stop trading services on August 26 before a final shutdown on January 31, 2027, DEX aggregator Odos on July 30, and decentralized storage company Storj Labs filed for Chapter 11 bankruptcy protection. Analysts believe these shutdowns typically mark the bottom of the bear market cycle, as seen after the collapse of Mt. Gox in 2015, Bitgrail in 2018, and FTX in 2022, each followed by strong Bitcoin price recoveries. Forecasts expect a cycle bottom around $40,000 to $45,000 by autumn.
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