Major cryptocurrency Bitcoin (BTC) fell to a seven-month low on Monday, extending a weeks-long correction as confidence in the cryptocurrency market continues to deteriorate.
Bitcoin is currently below $90,000, down 5.8% in the past 24 hours. BTC has erased all of its gains since 2025 and is down nearly 27% from its all-time high just over a month ago.
However, Bitcoin’s losses continue to mount, with some analysts saying it is increasingly likely that it will bottom in the near term.
Currently, Bitfinex analysts say that while this correction is the third largest since 2023, the recent increase in Bitcoin’s realized losses has slowed and the market is nearing a near-term bottom.
Analysts said the current pace of selling and the magnitude of realized losses experienced by investors are beginning to stabilize, raising the possibility of a bottom.
Analysts at Bitfinex said the data suggests the market may be nearing the bottom, entering a consolidation phase rather than a prolonged capitulation.
“Historically, sustained lows have only occurred after short-term investors have given up.
Based on current trends, the market appears to be approaching this threshold again.
The short-term recovery and bottom for now will depend on short-term investors capitulating and remaining selling pressure dissipating. ”
Separately from Bitfinex, senior analyst James Van Stratten also said the correction met the conditions for a structural bottom.
“CME Bitcoin futures opened at $93,840, leaving an unbridgeable gap in the $91,970 region. If price tests this gap and supply and demand stabilize, it could create conditions for a recovery.”
*This is not investment advice.
