Bitcoin hit its annual low at $57,750 on Wednesday, July 1st, reigniting the debate over the end of the cyclical bear market. Based on the previous cycles from 2014, 2018, and 2022, this trough would represent a bear market of 268 days, significantly shorter than the historical average of one year. With 802 days after the April 2024 halving, this result falls below the average of 859 days observed in previous cycles. Vincent Ganne remains cautious and anticipates a possible new trough in September, between $50,000 and $55,000, before a definitive confirmation of the bottom. The bear market will only be considered over when Bitcoin reclaims its 200-day moving average.
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