ME News reports that on August 22 (UTC+8), Grayscale posted on X that Bitcoin’s rally this week may signal a market turning point. It noted that, in historical cycles, Bitcoin’s price typically bottoms out after retracing approximately 80% from its peak; however, in this bear market, BTC has only declined about 50% from its high—less than in previous cycles. While the market previously debated whether BTC might drop further in Q4 2026, Grayscale believes that although downside risks have not been fully eliminated, this week’s rebound may indicate the formation of a more sustainable market bottom. (Source: ChainCatcher)
Grayscale: BTC Weekly Rally May Signal a More Resilient Bottom Forming
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Summary
Grayscale noted on August 22 (UTC+8) that the BTC price rebound could signal a more resilient bottom forming. Historically, Bitcoin retraced about 80% from its peaks before reaching a bottom, but this time it has only declined by 50%. While some anticipate further BTC price drops in Q4 2026, Grayscale sees signs of a sustained recovery. BTC dominance remains stable, suggesting potential market consolidation. Downside risks still exist.
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