Grayscale: Bitcoin May Have Bottomed Out, Week's Gain Becomes Key Signal of Cycle Reversal

BlockBeats News, August 22, Grayscale posted that this week could mark a turning point for Bitcoin. Historically, Bitcoin tends to retrace about 80% from the cycle top to the bottom. In the recent bear market, Bitcoin dropped around 50% from the cycle high, which is less than all previous cycles at this stage.

Previously, the market has been debating whether Bitcoin would see a new downturn in the fourth quarter of 2026. Despite ongoing risks in the market, this week's rally may indicate that Bitcoin has established a more solid bottom.