Has Bitcoin genuinely carved out a cycle low or just staged another reflexive bounce? After briefly threatening to lose the $80,000 level and then rebounding toward $88,000, the “bottom” debate is back in full force. On-chain analytics firm Santiment has weighed in – and its answer is cautiously skeptical.

Did Bitcoin Just Print Its Cycle Low?

The firm begins by criticizing the way market labels are thrown around. “The terms ‘bull market’, ‘bear market’, ‘topped’, or ‘bottomed’ can truly mean whatever narrative a trader, investor, or community wants it to mean,” Santiment notes, pointing out that few commentators define a clear timeframe when they call a top or bottom. This opens the door to extreme confirmation bias “after the uptrend or downtrend of prices are already well establishe

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