PANews June 28 news, according to CoinDesk, Bitcoin advocate Samson Mow said on social platforms that he believes the bottom of this Bitcoin cycle has been formed, and pointed out that the traditional "four-year halving cycle" is being broken, with market timing clearly moving earlier. He noted that Bitcoin hit an all-time high 37 days before the halving in April 2024, indicating that the cycle pattern is accelerating. Even if the cycle model is acknowledged to have reference value, its effectiveness should be re-evaluated. Moreover, with spot ETFs bringing sustained institutional capital inflows, Bitcoin's market structure has changed, and the traditional approach of identifying tops and bottoms based on historical halving cycles is becoming distorted. Therefore, the current price range already possesses the characteristics of a cycle bottom.

However, market views remain markedly divided. 10x Research founder Markus Thielen believes that Bitcoin's bottom is more likely to appear in the area around $55,000, with a time window possibly between August and October; BitMEX co-founder Arthur Hayes expects Bitcoin could drop to around the $40,000 level over the coming months; CoinDesk analyst James Van Straten pointed out that from long-term indicators such as the 200-week moving average, Bitcoin may still need to fall by more than 15% further before completing its final bottom formation, and the current range of $50,000 to $54,000 could become a key battleground for bulls and bears. Overall, the market has yet to form a consensus on whether the bottom has been reached.