Galaxy Research: Bitcoin Cycle Bottom Still Unconfirmed, Warns of Possible Drop to $30K–$37K

Galaxy Research says Bitcoin may still be in the process of finding its cycle bottom, as only 4 out of 13 historical bottom indicators have been activated so far.

Based on on-chain and broader market data, the firm adds that current conditions do not yet confirm a final low. In its outlook, Galaxy Research outlines a base-case bottom range between $40,000 and $46,000.

However, it also cautions that if market weakness continues, Bitcoin could see a deeper capitulation phase, with possible downside toward the $30,000 to $37,000 area.

Source: Galaxy Research