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    Bitcoin Bear Market: 70% Plunge Ahead?

    Historically, Bitcoin has experienced significant price drops in bear markets, with past drawdowns reaching levels of 94%, 87%, and around 77%.

    Benjamin Cowen, the founder of Into The Cryptoverse, suggests Bitcoin could potentially face a 70% correction during its next bear market phase. While not a certainty, he points to past market behavior as an indicator of potential downside risk.

    Cowen noted that even if Bitcoin were to surge to $250,000, a 70% decline would still bring its value down to approximately $75,000.

    Cowen plans to shift profits into stablecoins if Bitcoin experiences rapid price increases during the fourth quarter. He may wait until approximately mid-2026 to reinvest those funds. Traders should expect significant rallies but also remain cautious of rapid market peaks.

    Bitcoin is currently trading around $117,010, showing an increase of 3.41% over the last month and a substantial 88.35% increase over the past year. Cowen cautions that market tops tend to materialize swiftly, often coinciding with periods of widespread market optimism.
    Bitwise CIO Matt Hougan anticipates positive performance for 2026 and is generally confident about the cryptocurrency’s long-term growth potential. Canary Capital CEO Steven McClurg believes there is a strong likelihood (over 50%) that Bitcoin could reach between $140,000 and $150,000 before the next market downturn.

    Ethereum may underperform relative to Bitcoin in the short term, with analysts predicting relative weakness for the next several weeks. However, the consensus seems to be that Ethereum will eventually outperform Bitcoin as the market cycle progresses. The anticipation is that Ethereum’s underperformance could last through October, but longer-term predictions suggest it will recover and exceed Bitcoin’s gains.

    The ETH/BTC ratio has risen by 8.56% during the previous month, potentially signaling the start of a recovery in Ethereum’s relative strength. Several analysts are also optimistic about the possibility of an extended bull market, which would challenge the commonly held belief in predictable four-year cycles.

    Michael Saylor, Executive Chairman of Strategy, expressed strong disagreement with predictions of a crypto winter, declaring “Winter is not coming back” during comments made in June.

    This article may contain links to external websites or resources for informational purposes only. CoinMarketCap has no control over these third-party sites and is not responsible for the content they contain. The inclusion of a link does not signify endorsement, approval, or recommendation by CoinMarketCap. It is important to conduct your own research and analysis before making any decisions related to cryptocurrency investments. This article is for informational purposes only and should not be considered financial advice. The views expressed within this article are those of the author(s) or mentioned entities and do not necessarily reflect the official stance of CoinMarketCap.

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