Bitcoin (BTC) experienced a significant drop due to a combination of factors including macroeconomic data, geopolitical tensions, increased outflows from spot ETFs, and a decrease in regulatory momentum in the US.
BTC lost more than $10,000 in value in a single day for the first time, testing the $60,000 mark.
The movement in Bitcoin’s price has brought back historical bear market records to other markets as well. In percentage terms, Thursday’s daily candle was the largest daily drop seen since the FTX crash.
Trader Jelle commented, “Yesterday saw the highest trading volume in Bitcoin since August 2024. A historic event.”
As the decline in Bitcoin continues to deepen, one analyst has warned that a recovery in the BTC price could take several years.
Bitcoin’s recovery may take until 2028!
Crypto analyst Rekt Capital painted a pessimistic picture for Bitcoin bulls and pointed to 2028 as the timeframe for a real recovery.
The analyst stated that a recovery in BTC may not happen before 2028, painting a classic bear market scenario for 2026.
An analyst who drew a 3-year chart for Bitcoin stated that he expects a bear market in 2026, a bottoming out in 2027, and finally a recovery and trend reversal in 2028.
“Year 2026: It looks like this year will indeed be the year of the Bitcoin bear market.”
2027: The year BTC will reach its bottom.
And 2028: That will be the year the $93,500 level is finally broken, and the trend reverses.”
In conclusion, the analyst stated that it could take until 2028 for Bitcoin to rise above $93,500 again and break the downtrend, while in a separate post he also warned that the bear market could accelerate.
*This is not investment advice.
