Bitcoin’s slide to around $57,700 at the end of June may have wrapped up the nastiest stretch of its 2026 bear market per BIT’s fresh update from July 17 🖤. After nailing much of BTC’s drop in recent months the crypto investment firm now urges traders to check if that low closed the correction or just paused before more downside.
The Roadmap’s Sinister Turns Unfold 🌙
BIT’s newest report expands on its June 12 research which showed Bitcoin slipping into the final bear market phase. Back then the firm mapped an Elliott Wave A-B-C correction from October 2025 with an early plunge into the $60,000 to $69,000 zone a bounce toward $80,000 to $90,000 and a closing Wave C slide during the 2026 FIFA World Cup ending July 19 🔮. That path has held up well with BTC tumbling from near $97,000 to $62,900 in February then recovering to roughly $82,000 in May as a counter-trend rally inside the bear market. It slid again hitting $57,700 by end of June under geopolitical strains and shifting US policy views on risk assets.
Dissenting Voices Whisper Doubt 💀
In the July 17 update BIT admitted underplaying US-Iran conflict effects that lifted inflation plus the new Federal Reserve chair Kevin Warsh’s hawkish tone yet the overall structure aligned closely with earlier projections. Prior analysis flagged technical clues for a potential bottom such as crushed sentiment and oversold stochastic levels with BTC well under its weekly moving average. Now focus shifts to the 21-week moving average as a key signal for confirming a longer-term uptrend 🕸️. Not all charts agree a bottom is forming though. CryptoQuant contributor IT Tech noted in a post titled “You really think the bottom is already in?” that spot Bitcoin ETF flows a major rally driver lately have faded sharply in 2026 🦇. Cumulative net inflows topped 500,000 BTC in 2024 and about 250,000 BTC in 2025 but 2026 shows roughly 120,000 BTC outflows prompting the question if ETF demand fueled the prior rise how can sentiment stay bullish now that demand flipped ✨. The analyst sees headwinds ahead not tailwinds. Earlier this week Bitcoin climbed above the $65,000 mark after June US CPI data missed expectations yet sellers erased those gains and at writing the asset hovers near $63,000 down almost 3% in 24 hours and about 2% over one week while sitting over 50% from its all-time high 👁️.
Just another echo from the void by iconofsin.eth 💖
