Analysis: Multiple Indicators Show Bottoming Signal, Some Analysts Expect Bitcoin to Restart Bull Market in September or October

BlockBeats News, July 13th. Despite the recent impact of the US-Iran conflict causing Bitcoin to fall to around $62,000, some market analysts believe that the current bear market may come to an end between September and October this year, with the bull market expected to start earlier than the general market consensus.

Trader Ryker stated that the market generally believes the next bull market will begin in 2027, but market makers often position themselves early. Therefore, it is expected that Bitcoin will start to rise in September or October this year. Trader Jelle pointed out that the Bitcoin weekly chart has shown a "death cross," a signal that has historically appeared at the end of bear markets, indicating that the market may have entered a new accumulation phase.

However, in the short term, Bitcoin still faces pressure. Analysts believe that $64,000 remains a key resistance level, and if it cannot be broken, there is a possibility of further price decline to around $57,800.

Additionally, this week the market will also see the release of the US June CPI, PPI data, and Fed Chairman Kevin Warsh's testimony to Congress. Meanwhile, the escalation of the US-Iran conflict and the tense situation in the Strait of Hormuz have driven up oil prices and inflation expectations, which may continue to disrupt risk assets, including cryptocurrencies.

On-chain data-wise, CryptoQuant shows that medium-sized hodler addresses holding between 100 and 1,000 BTC net sold about 67,000 BTC on July 13th, marking the largest-scale distribution since February this year. However, the institution pointed out that historically, similar distribution behavior often occurs on the eve of price rebounds. While the current signal is not sufficient to confirm a market bottom, it is approaching the historical range where significant changes in behavior by medium-sized investors tend to occur.