Bitcoin officially enters bear market after 20% drop from October high
Crypto Briefing
Bitcoin entered a bear market following a 20% drop from its October high, with analysts predicting the downturn could last until late 2026.Summary
Bitcoin has officially entered a bear market after its price declined by more than 20% from its peak in October, according to The Kobeissi Letter. Elliott Wave analysts project that this bearish phase could extend through late 2026, indicating prolonged downward pressure for the leading cryptocurrency. While recent price action has removed excessive leverage from the market, this deleveraging might lead to continued volatility during the extended bearish period. Despite the downturn, some investors are reportedly accumulating Bitcoin during the price decline, suggesting underlying buying interest amid fears of a new crypto winter.
(Source：Crypto Briefing)