The crypto market, particularly Bitcoin (BTC), entered a prolonged downtrend after peaking in October 2025, with BTC falling roughly 16% over the past month and many alternative cryptocurrencies recording even steeper losses. ChatGPT expects a sustained bull run to begin in 2027, citing weak buying demand and recent multibillion-dollar outflows from spot ETFs. Perplexity and Gemini instead point to the second quarter of 2027, with Perplexity calling the April-to-June 2027 period the highest-probability window. Their forecasts depend on improving ETF flows, a healthier market structure, and more supportive macroeconomic and regulatory conditions.
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