BlockBeats news, on June 25, Jiang Zhuo'er, founder of BitClub Mining Pool, posted that Strategy's mNAV has fallen to 0.72, nearing the low of 0.7 reached in May 2022 during the previous bear market. Judging from recent market sentiment events such as STRC's de-pegging, the current mNAV is likely at the bottom of this cycle.
mNAV typically leads Bitcoin's price bottom by approximately six months. Based on the "four-year cycle" and decreasing volatility model, this Bitcoin bear market may bottom between October and December 2026, with a target price range of $42,000 to $44,000.
Jiang Zhuo'er stated that his recent medium- to short-term strategy remains focused on selling spot assets and shorting, with plans to shift to buying spot and going long once the expected bottom is reached.

