$BTC Drop to $60K Signals Potential Cycle Midpoint, Says Kaiko Research


$BTC touched $59,930 on Friday, reaching its lowest price since October 2024, CoinMarketCap data shows. The 32% decline from recent highs may mark the midpoint of an ongoing bear market, according to analysis from Kaiko Research.


#Priceaction suggests the market has exited the post-halving euphoria phase and entered a typical bear period. Historical patterns indicate that this stage lasts approximately 12 months before accumulation resumes, Kaiko stated in a Monday note.


#On-chain indicators are flashing #bearmarket signals across multiple metrics. Aggregate spot trading volume on the 10 largest centralized exchanges declined 30%, falling from roughly $1 trillion in October 2025 to $700 billion in November.


Combined futures open interest for $BTC and $ETH dropped from $29 billion to $25 billion over the past week. The 14% reduction reflects deleveraging as traders unwind positions amid heightened volatility, Kaiko's data indicates.


Bitcoin's alignment with the four-year halving cycle has strengthened since the year began. However, determining the bear market's depth remains complicated because many factors that drove the rally to $126,000 persist, said Shawn Young, chief analyst at MEXC Research.


Oversold conditions are appearing on multiple timeframes. The question surrounding a $BTC rebound centers on timing rather than likelihood, Young noted when discussing market technical structure.


The $60,000 level approximately matches Bitcoin's 200-week moving average, a metric that historically provided long-term support. Whether this price represents the cycle bottom remains uncertain as #cryptocurrency participants debate market trajectory.

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February 10, 2026 at 8:23 PM
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