**[Renowned Trader: Bitcoin Has Completed Five-Wave Correction, Structure Indicates Bottom May Have Formed]** BlockBeats News, July 22 — Renowned trader Killa (@KillaXBT) posted that Bitcoin typically completes a five-wave correction during each bear market cycle, forming two significant peaks. The first peak often occurs during the initial major rebound after the top, referred to as the "complacency peak," where the market widely believes the bull market has returned. Following this, prices usually continue to explore new lows. Killa pointed out that similar structures appeared in the cycles of 2014, 2022, and 2026. After the complacency peak forms, the market typically experiences a "dead cat bounce," establishing a temporary bottom. As market sentiment deteriorates and short positions accumulate, a short squeeze subsequently drives prices upward, with the ultimate bottom usually forming after the second major retest. Killa believes that BTC has now swept past the bottom formed by the "dead cat bounce" and completed a five-wave correction structure similar to previous cycles. From a structural perspective, the correction waves have ended, and the low point may have already formed. However, he remains cautious about the time cycle. Historically, bear markets have typically lasted around 365 days before forming the final bottom, whereas if the current low point has indeed appeared, it would have taken only about 260 days—approximately 100 days earlier than historical cycles. Currently, Killa maintains a 50-50 judgment but considers it more likely that a higher low will form in the future rather than a significant new low. [Original Link]