Bitcoin Could Be Done Falling This Cycle, Analyst Predicts

Trader KillaXBT said in a post on X that Bitcoin’s bear-market bottom may already be in, even after renewed selling pushed the cryptocurrency toward $75,000 this week. KillaXBT argued that market structure should carry more weight than the seasonal pattern that has often placed Bitcoin cycle lows in the fourth quarter, saying Bitcoin has formed three significant lows in each cycle and that a 2023 bottom resembled this year’s action. Bitcoin traded just above $76,000 at the time of writing, down more than 5% in 24 hours and 10% over 30 days. More than $560 million in positions were liquidated in under an hour as U.S. stocks weakened, with most losses borne by traders who had bet on higher prices.