Bitcoin May Have Already Hit Cycle Bottom, Analyst Says

Checkonchain founder James Check, speaking to CoinTelegraph, analyzed that Bitcoin (BTC) experienced a capitulation moment when it dropped near $60,000 in February, followed by months of consolidation. He noted another capitulation phase occurred between June and July at around $58,000, suggesting the current cycle may have already bottomed out. Check highlighted that approximately $300 billion worth of BTC is concentrated in the $58,000-$70,000 acquisition range, with roughly 4 million BTC transitioning from unrealized losses to profit status. He emphasized analyzing investor purchase prices, profit/loss status, and long-term holder accumulation/selling patterns rather than adhering strictly to the four-year cycle.