Analysts believe the Bitcoin bear market has not yet bottomed out and may establish a "rock-solid" support level of $55,000-$60,000 by the end of 2026.

CryptoQuant analysts point out that the next Bitcoin bear market has not yet fully bottomed out, predicting an "iron bottom" around December 2026, with a price range of $55,000 to $60,000. This cycle may require a "final clearing" before the bottom is fully formed. The analysis is based on multiple on-chain indicators, including the MVRV Z-score: while the indicator has cooled down, it has not yet entered negative (undervalued) territory; historically, every bear market "iron bottom" has been accompanied by this indicator falling below the zero line, meaning the market has not yet entered an extremely pessimistic phase. Based on historical patterns, the market may bottom out at the end of 2026 and then enter a two-year accumulation period. Combined with the Bitcoin halving in 2028, the peak of the next bull market may appear in the second half of 2029.