Key Takeaways
- Bitcoin has formally fallen right into a bear market after a 20% drop from its October 2023 excessive.
- Elliott Wave analysts forecast the bear market might final till late 2026.
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Bitcoin formally entered bear market territory right now after declining greater than 20% from its October peak, in keeping with The Kobeissi Letter.
Elliott Wave analysts anticipate the bear market will persist via late 2026, signaling an prolonged interval of downward stress for the main cryptocurrency.
The latest worth drop eliminated extreme leverage from the market, in keeping with blockchain analytics, although this deleveraging might set the stage for continued volatility through the bearish part.
Regardless of the broader downturn, some Bitcoin holders have been accumulating through the worth decline, suggesting some underlying shopping for curiosity amid rising issues of a brand new crypto winter.
