Bitcoin Could Be Done Falling This Cycle, Analyst Predicts

Bitcoin's usual fourth-quarter bottoming pattern is central to the debate, with the analyst believing seasonality can change between cycles. Bitcoin (BTC) may have already completed its bear market bottom, despite renewed selling that pushed the OG cryptocurrency toward $75,000 this week. This is according to trader KillaXBT, who believes market structure carries more weight than the seasonal pattern that has often placed BTC’s cycle lows in the fourth quarter. Market Structure Over Bitcoin’s Usual Q4 Pattern In a post on X, Killa challenged the idea that Bitcoin still needs to establish another low before the current cycle can turn. “I want to show why I believe that may not be the case,” wrote the trader. “The BTC bottom is already in, and what we’re likely seeing now is the market derisking as legacy markets fall off a cliff, with crypto simply following the correlation.” According to them, regardless of seasonality, the flagship cryptocurrency has always formed three “significant lows” in each cycle. They pointed to a bottom formed in 2023, which, in their opinion, was very similar to what the market has been through this year, with another two lows coming very close to each ot...