Where Does Bitcoin Finally Bottom? These Are the Levels Analysts Are Watching

Bitcoin (BTC) has declined 22.5% over the past month. The coin briefly dipped to its lowest level in over a year last week before rebounding. The pullback has intensified debate around historical cycles, technical indicators, and on-chain data that could signal where Bitcoin’s current bear market will finally bottom. As uncertainty rises, several analysts are now focusing on key price zones below $40,000. Bitcoin Bottom Prediction: Analysts Point to Key Levels BeInCrypto Markets data showed that the largest cryptocurrency fell to $60,000 on February 6. Prices later recovered, with Bitcoin trading at $70,354 at press time, up 1.20% on the day. Bitcoin (BTC) Price Performance. Source: BeInCrypto Markets A recent report from 10x Research suggested that the broader downtrend remains intact despite sentiment and technical indicators nearing extreme levels. At the same time, flow data suggests investors remain cautious. Continued ETF withdrawals and rising stablecoin conversions point to limited appetite for aggressive dip-buying. “Positioning dynamics suggest traders remain focused on deleveraging and position unwinds rather than on preparing for a typical snapback rally,” 10x Research wrote. With uncertainty still dominating, the focus has shifted to identifying Bitcoin’s potential bottom. Many analysts believe more declines cannot be ruled out, with attention increasingly centered on price zones below $40,000. Analyst Ardi examined Fibonacci retracement levels linked to past cycle bottoms. He noted that Bitcoin bottomed at the 78.6% Fibonacci mark during 2022’s bear market. This level currently sits near $39,176, hinting at further downside. Bitcoin Bottom Prediction. Source: X/Ardi Historical trends offer another clue. Analyst Nehal highlighted historical drawdown data showing that Bitcoin’s bear markets have become progressively less severe over time. According to the analysis, Bitcoin declined by 93% in 2011, 86% in 2015, 84% in 2018, and 77% during the 2022 down...