Analysts are split on whether the drop represents a cycle low or a pause before further downside.
Bitcoin’s sharp correction at the start of the month may represent a critical “halfway point” in the current bear market, according to Kaiko Research.
Bitcoin (BTC) fell to $59,930 on Friday, marking its lowest level since October 2024, before the re-election of US President Donald Trump, according to TradingView data.
The decline suggests the market has moved out of the euphoric post-halving phase and into what Kaiko described as a historically typical bear market period that lasts about 12 months before a new accumulation phase begins.
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