According to Cointelegraph, Kaiko Research's analysis pointed out that Bitcoin fell to about $59,930 at the beginning of this month, reaching a new low since October 2024, which may mark the "midpoint" of the current bear market. The market has now moved away from the post-halving frenzy and entered a bear market phase that typically lasts about 12 months, paving the way for the next accumulation phase. On-chain indicators and the performance of major cryptocurrencies show that the market is approaching key technical support levels, which will determine whether the four-year cycle framework remains intact. Spot trading volume on major centralized exchanges dropped from about $1 trillion in October 2025 to $700 billion in November, a decline of about 30 percent; the total open interest of Bitcoin and Ethereum futures also fell from $29 billion to $25 billion, indicating continued market deleveraging. With multiple cycles showing oversold indicators, the question for Bitcoin's rebound is more about "when" it will happen, rather than "if" it will happen.
Kaiko: Bitcoin Below $60,000 May Signal Midpoint of Bear Market
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Summary
Bitcoin news: Kaiko Research says Bitcoin analysis shows the $59,930 level in early February may mark the midpoint of the bear market. The drop, the lowest since October 2024, reflects a shift from post-halving momentum to a standard 12-month bear phase. On-chain data and crypto asset performance indicate the market is near key support levels. Centralized exchange spot volume fell 30% to $700 billion in November 2025, while Bitcoin and Ethereum futures open interest dropped to $25 billion. Bitcoin analysis suggests the focus is now on timing a rebound, not whether one will come.
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