Bitcoin Holds $64,000 as Analyst Says Market Low Is 'Months, Not Weeks' Away

Benzinga_recent_news05:22

Bitcoin (CRYPTO: BTC) has reclaimed its 200-week simple moving average after falling to an early-summer low near $57,000. Crypto analyst Benjamin Cowen though argues the recovery does not yet signal ...

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Historical patterns, on-chain data and macro conditions suggest Q4 bottom. BTC cycle low is likely \"a matter of months rather than weeks away.\"","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DFII":"FT Cboe Vest Bitcoin Strategy & Target Income ETF","BAGY":"Amplify Bitcoin Max Income Covered Call ETF","DEFI":"比特币期货ETF-Hashdex","CBOO":"Calamos Bitcoin Structured Alt Protection ETF - October","BTCO":"比特币ETF-Invesco Galaxy","HODL":"比特币ETF-VanEck","CBTO":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - October","FBTC":"比特币ETF-Fidelity","EZBC":"比特币ETF-Franklin","CBTY":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - July","BITU":"2倍做多比特币期货ETF-Proshares","QBF":"Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly","BITX":"2倍比特币期货ETF-Volatility Shares","CBXA":"Calamos Bitcoin 90 Series Structured Alt Protection ETF – April","BITY":"Amplify Bitcoin 2% Monthly Option Income ETF","BTRN":"比特币期货ETF-Global X","CBOY":"Calamos Bitcoin Structured Alt Protection ETF - July","CBXJ":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - January","BTCW":"比特币ETF-Wisdom Tree","XBTY":"GraniteShares YieldBOOST Bitcoin ETF","BTCZ":"T-Rex 2X Inverse Bitcoin Daily Target ETF","BITO":"比特币期货ETF-ProShares","BFAP":"FT Vest Bitcoin Strategy Floor15 ETF - April","BITI":"1倍做空比特币期货ETF-Proshares","CBXO":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - October","MAXI":"比特币期货ETF-Simplify","BTC":"Grayscale Bitcoin Mini Trust","CBXY":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - July","SBIT":"2倍做空比特币期货ETF-Proshares","CBOA":"Calamos Bitcoin Structured Alt Protection ETF - April","MNRS":"GRAYSCALE BITCOIN MINERS ETF","BTCC":"Grayscale Bitcoin Covered Call ETF","BITB":"比特币ETF-Bitwise","CBOJ":"Calamos Bitcoin Structured Alt Protection ETF - January","CBTA":"Calamos Bitcoin 80 Series Structured Alt Protection ETF – April","BTCI":"NEOS Bitcoin High Income ETF","BTF":"比特币&以太币期货ETF-CoinShares","BETH":"比特币&以太币期货ETF-ProShares","GBTC":"比特币ETF-Grayscale","BFJL":"FT Vest Bitcoin Strategy Floor15 ETF - July","YBTC":"比特币看涨期权ETF-Roundhill","BCCC":"Global X Bitcoin Covered Call ETF","BPI":"Grayscale Bitcoin Premium Income ETF","ARKB":"比特币ETF-21Shares","CBTJ":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - January","BETE":"等权重比特币&以太币期货ETF-ProShares","BTFX":"比特币期货ETF-CoinShares","BRRR":"比特币ETF-CoinShares","BTCL":"T-REX 2X LONG BITCOIN DAILY TARGET ETF"},"translate_title":"比特币持有 64,000 美元，分析师表示市场低点还有“几个月而不是几周”的时间","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GBTC":0.6,"BTCO":0.6,"BTCL":0.6,"BTF":0.6,"BETE":0.6,"CBXJ":0.6,"BTCZ":0.6,"FBTC":0.6,"BITB":0.6,"BRRR":0.6,"BCCC":0.6,"BETH":0.6,"BITI":0.6,"BPI":0.6,"CBXO":0.6,"CBXA":0.6,"BTFX":0.6,"DFII":0.6,"ARKB":0.6,"BTCC":0.6,"BFJL":0.6,"HODL":0.6,"MAXI":0.6,"EZBC":0.6,"YBTC":0.6,"CBTA":0.6,"CBXY":0.6,"BITO":0.6,"BTRN":0.6,"BAGY":0.6,"CBTO":0.6,"CBTY":0.6,"CBTJ":0.6,"BTCI":0.6,"BFAP":0.6,"BITU":0.6,"BTCW":0.6,"QBF":0.6,"BITX":0.6,"CBOY":0.6,"DEFI":0.6,"SBIT":0.6,"XBTY":0.6,"CBOA":0.6,"CBOJ":0.6,"BITY":0.6,"CBOO":0.6,"MNRS":0.6,"BTC":0.6},"content_text":"Bitcoin (CRYPTO: BTC) has reclaimed its 200-week simple moving average after falling to an early-summer low near $57,000. \nCrypto analyst Benjamin Cowen though argues the recovery does not yet signal the end of the bear market.\nA July 2026 Bitcoin Cycle Memo by Cowen, released on July 16, explained that the current setup continues to favor a Q4 bottom, citing historical cycle patterns, on-chain data and macroeconomic conditions.\nBitcoin is trading around $64,400, roughly 45% below its October 2025 peak, after recovering from a breakdown below the 200-week SMA.\nCowen terms the reclaim as Bitcoin’s long-awaited “date with destiny” but cautioned that a similar break-and-reclaim pattern occurred in 2022 before the market eventually printed its cycle low.\nInstead, the analyst believes this cycle may complete its reset through an extended period of consolidation rather than a sharp final selloff.\nCowen pointed to several long-term accumulation metrics that have entered historically favorable territory.\nRisk indicators have fallen into zones that previously coincided with major buying opportunities, while the percentage of Bitcoin supply in profit versus loss crossed at the early-summer low. This is a condition historically associated with bottoming periods.\nHowever, the analyst said several key indicators have yet to fully reset.\nThe MVRV Z-Score remains above the levels typically seen at major cycle lows, Bitcoin has not revisited its realized price near $53,000, and previous bear markets bottomed below balanced price rather than above it.\nThe report also highlighted weakening market breadth and slowing ETF accumulation despite Bitcoin’s recent recovery. \nFor July 2026 till date, BTC ETFs witnessed net outflows of $11.3 million while June saw net outflow of $4.5 billion.\nCowen identifies a sustained weekly move above the 50-week SMA near $86,500 as the key level that would invalidate the current bear-market thesis.\nUntil then, Bitcoin’s cycle low is likely “a matter of months rather than weeks away.”\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","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":"4.46.0","shortVersion":"4.46.0","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/2652357474","isCrawlerRequest":true}