Based

Galaxy

Bitcoin

Standard

Bitcoin Price has remained a hot topic as Bitcoin is trading around the $61,000-$63,000 range in the last 24 hours, with sentiment still cautious after the recent correction pushed BTC more than 50% below its all-time high.&nbsp;
In a recent <a href="https://www.youtube.com/watch?v=0mEqUI0UYHM" rel="noopener noreferrer nofollow">podcast</a>, Bitwise CIO Matt Hougan and Head of Research Ryan Rasmussen revealed how three major research firms have reached completely different conclusions on Bitcoin’s next move. Interestingly, while they disagree on where the bottom lies, all three firms still expect Bitcoin to eventually enter a new bull cycle.&nbsp;
Having said that, while short-term traders remain nervous and market volatility continues, the big question dominating crypto right now is: has <a href="https://coinpedia.org/news/bitcoin-bear-market-bottom-2026-is-60000-the-floor-or-is-october-the-real-low/" rel="noopener noreferrer nofollow">Bitcoin finally found its bottom</a>, or is another leg down still ahead?&nbsp;
<h2 id="h-galaxy-digital-sees-more-downside-ahead" class="wp-block-heading">Galaxy Digital Sees More Downside Ahead</h2>
According to Galaxy Digital, Bitcoin may not have bottomed yet.
Hougan explained that Galaxy analyzed around 11-12 indicators that have historically appeared near major Bitcoin bottoms. However, only three of those signs have flashed so far.
Based on that analysis, Galaxy noted that Bitcoin could still fall substantially, with the firm pointing to a potential move down to around $40,000 before a true market bottom forms.
In short, Galaxy’s view remains the most bearish among the three research houses.
<h2 id="h-nydig-thinks-the-bottom-is-close" class="wp-block-heading">NYDIG Thinks the Bottom Is Close</h2>
NYDIG takes a more balanced approach.
Looking at previous Bitcoin cycles, NYDIG noted that historical drawdowns have typically ranged between 75% and 90%. Since Bitcoin had already fallen roughly 50% from its highs, the firm pointed that the market may be approaching a bottom but could still see some additional weakness.
Their estimate places a possible bottom near $50,000.
Hougan described NYDIG’s outlook as essentially a “maybe”, Bitcoin could have bottomed, but another leg lower cannot be ruled out.
<h2 id="h-standard-chartered-says-the-bottom-is-already-in" class="wp-block-heading">Standard Chartered Says the Bottom Is Already In</h2>
Meanwhile, Standard Chartered remains the most optimistic.
The bank says Bitcoin’s low around $59,000 marked the cycle bottom. The firm pointed to improving ETF flows, easing selling pressure, and stronger institutional demand as reasons for its bullish stance.
According to Standard Chartered, Bitcoin has already turned the corner and could now be preparing for its next major rally.
<h2 id="h-the-bigger-question-isn-t-the-bottom" class="wp-block-heading">The Bigger Question Isn’t the Bottom</h2>
Despite their different forecasts, Hougan noted that all three firms share one important view: none said Bitcoin’s long-term bull market is over.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “None of them had given up. None of them were bearish,” Hougan said.
</blockquote>
Instead, all three expect Bitcoin to eventually recover and move to new highs.
For Hougan, investors may be focusing on the wrong question altogether. Rather than obsessing over whether Bitcoin bottoms at $40,000, $50,000, or $60,000, he thinks the real question is where the next cycle top will be.
Bitwise remains confident that institutional adoption is still in its early stages, with major financial firms gradually entering the market. Rasmussen added that as institutional capital continues flowing into Bitcoin, future market drawdowns are likely to become much smaller than in previous cycles.

Will Bitcoin Price Dip Below $50,000?

Table of Contents

CoinPedia News

Other articles published on Jun 25, 2026

Join our free newsletter for daily crypto updates!