6.24 Bear market bottom or mid-point? 1. Current opinions are split into two camps: one believes $59,000 is the bear market bottom and $BTC has already bottomed out, while the other thinks $BTC will continue to drop, targeting $50K or $40K. 2. My view is that $BTC at $60K is equivalent to $30K in the last cycle—it's the mid-point of the bear market. However, it won't drop immediately. There will be a very long period of consolidation and rebound, possibly lasting several months, with a chance to rebound above $80K before dropping again.