Odaily Planet Daily reports that analysts from the on-chain analytics platform CryptoQuant indicate that the next Bitcoin bear market has not yet fully bottomed out, with the "iron bottom" expected to emerge around December 2026, in the price range of $55,000 to $60,000. This cycle may require a final liquidation phase to complete its bottom formation.
Analysis of multiple on-chain indicators, including the MVRV Z-score: although this indicator has cooled, it has not yet entered negative territory (undervalued); historically, the "iron bottom" of each bear market has been accompanied by this indicator dipping below zero, indicating that the market has not yet reached a state of extreme pessimism. Based on historical patterns, the market may bottom out by the end of 2026, followed by a roughly two-year accumulation phase, combined with the Bitcoin halving cycle in 2028, suggesting that the next bull market peak could occur in the second half of 2029.