Bitcoin Dashes to $64,000 Despite October 'Final Bottom' Warning

Benzinga01:58

Bitcoin’s (CRYPTO: BTC) price action in 2026 has closely mirrored the 2018 bear market roadmap, with crypto analyst Benjamin Cowen projecting a market bottom by October. In a podcast on July 14, Cowen...

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While Cowen expects a short-term relief rally before another pullback, he advises investors to focus on dollar-cost averaging rather than trying to pinpoint the exact cycle low.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BETH":"比特币&以太币期货ETF-ProShares","BITB":"比特币ETF-Bitwise","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","CBXO":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - October","BITI":"1倍做空比特币期货ETF-Proshares","BTC":"Grayscale Bitcoin Mini Trust","MNRS":"GRAYSCALE BITCOIN MINERS ETF","MAXI":"比特币期货ETF-Simplify","IBIT":"比特币ETF-iShares","XBTY":"GraniteShares YieldBOOST Bitcoin ETF","GBTC":"比特币ETF-Grayscale","CBXY":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - July","CBOA":"Calamos Bitcoin Structured Alt Protection ETF - April","BTCC":"Grayscale Bitcoin Covered Call ETF","BITO":"比特币期货ETF-ProShares","CBOJ":"Calamos Bitcoin Structured Alt Protection ETF - January","BTCI":"NEOS Bitcoin High Income ETF","QBF":"Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly","BFAP":"FT Vest Bitcoin Strategy Floor15 ETF - April","BTF":"比特币&以太币期货ETF-CoinShares","BFJL":"FT Vest Bitcoin Strategy Floor15 ETF - July","CBTA":"Calamos Bitcoin 80 Series Structured Alt Protection ETF – April","BPI":"Grayscale Bitcoin Premium Income ETF","HODL":"比特币ETF-VanEck","BTFX":"比特币期货ETF-CoinShares","BCCC":"Global X Bitcoin Covered Call ETF","CBTJ":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - January","DEFI":"比特币期货ETF-Hashdex","DFII":"FT Cboe Vest Bitcoin Strategy & Target Income ETF","BRRR":"比特币ETF-CoinShares","ARKB":"比特币ETF-21Shares","EZBC":"比特币ETF-Franklin","BITU":"2倍做多比特币期货ETF-Proshares","SBIT":"2倍做空比特币期货ETF-Proshares","FBTC":"比特币ETF-Fidelity","BAGY":"Amplify Bitcoin Max Income Covered Call ETF","BTCL":"T-REX 2X LONG BITCOIN DAILY TARGET ETF","CBOO":"Calamos Bitcoin Structured Alt Protection ETF - October","BTCO":"比特币ETF-Invesco Galaxy","CBTO":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - October","YBTC":"比特币看涨期权ETF-Roundhill","BITX":"2倍比特币期货ETF-Volatility Shares","CBTY":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - July","BITY":"Amplify Bitcoin 2% Monthly Option Income ETF","CBXA":"Calamos Bitcoin 90 Series Structured Alt Protection ETF – April","BTRN":"比特币期货ETF-Global X","CBOY":"Calamos Bitcoin Structured Alt Protection ETF - July","BETE":"等权重比特币&以太币期货ETF-ProShares","BTCW":"比特币ETF-Wisdom Tree","CBXJ":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - January"},"translate_title":"尽管 10 月份发出“最终底部”警告，比特币仍飙升至 64,000 美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTF":0.6,"BCCC":0.6,"BTFX":0.6,"CBTY":0.6,"BFJL":0.6,"GBTC":0.6,"BTC":0.6,"CBXA":0.6,"BTCW":0.6,"BPI":0.6,"IBIT":0.6,"CBXO":0.6,"BTCI":0.6,"BTCZ":0.6,"QBF":0.6,"BTCO":0.6,"BAGY":0.6,"BITI":0.6,"BETH":0.6,"CBXY":0.6,"CBTJ":0.6,"YBTC":0.6,"CBOO":0.6,"HODL":0.6,"CBTO":0.6,"DFII":0.6,"CBOA":0.6,"EZBC":0.6,"XBTY":0.6,"CBOJ":0.6,"BITU":0.6,"BTRN":0.6,"BTCC":0.6,"CBOY":0.6,"CBXJ":0.6,"BETE":0.6,"BRRR":0.6,"CBTA":0.6,"ARKB":0.6,"BITX":0.6,"SBIT":0.6,"FBTC":0.6,"BITY":0.6,"BITB":0.6,"BFAP":0.6,"MNRS":0.6,"DEFI":0.6,"BITO":0.6,"MAXI":0.6,"BTCL":0.6},"content_text":"Bitcoin’s (CRYPTO: BTC) price action in 2026 has closely mirrored the 2018 bear market roadmap, with crypto analyst Benjamin Cowen projecting a market bottom by October.\nIn a podcast on July 14, Cowen said Bitcoin’s current bear market continues to closely resemble the 2018 cycle from a structural standpoint, even as macro conditions more closely resemble the 2019-2020 period.\nCowen pointed to several similarities between the two cycles, including a February low, a higher low in late March or early April, a lower high in May and a sweep of the February lows in late June or early July.\nHe added that the current market reflects 2018 from a four-year cycle perspective and 2019 from a business cycle perspective. \nDuring these phases, restrictive monetary conditions prevented the traditional rotation into higher-risk crypto assets.\nPrice Action: Bitcoin has surged over 3% over the past 24 hours.\nWhile Cowen expects the 2018 fractal to eventually diverge, he believes the break will likely come because Bitcoin bottoms earlier than December, with late September to early October remaining his base case for a cycle low.\nThe analyst expects BTC could rally toward the bear market resistance band through late July before giving back those gains during August, like previous bear market rallies in 2018 and 2022.\nCowen warned investors not to become overly bearish or obsess over perfectly timing the bottom. He argues that dollar-cost averaging during bear markets has historically been more effective than waiting for the exact low.\nHe also cautioned that while Bitcoin may stabilize, altcoins could continue underperforming, noting that during the 2018 cycle, BTC held key support while the broader altcoin market continued to bleed lower.\nDespite expecting one more downside move to fully reset on-chain indicators, Cowen said Bitcoin remains in a time-based capitulation phase.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2651486718","isCrawlerRequest":true}