Bitcoin Traders see No Bear-Market Bottom Until at Least Q3

Bitcoin (BTC) starts the second week of June with damage control — and new macro lows are still expected this year.

Traders see a relief bounce coming next for BTC price action, but the bottom, they agree, is not in.US inflation data will test markets’ resolve as the US-Iran war drags on.Peace-deal pledges by US President Donald Trump do little to stabilize the risk-asset picture.Multiple onchain indicators give analysts hope that the worst of the sell-off is over.Crypto sentiment dives to some of its lowest levels on record.

Bitcoin bear-market bottom is months away

Bitcoin saw modest relief around its latest weekly close, data from TradingView shows, but among traders, the lack of major good news is conspicuous.

“Previous weekly candle closed very bearish, and left an imbalance at 72.5K. As long as we hold the 59.1K previous weekly low, my final long target for this week is that 72.5K imbalance,” trader Lennaert Snyder wrote in one of his latest analysis posts on X.

BTC/USDT four-hour chart. Source: Lennaert Snyder/X

Trader Mark Cullen warned that even in the event of a relief bounce, the bear-market low was still to come.

“Now $BTC has swept the 60K level, which happened a bit quicker than i had originally anticipated,” he told X followers.

“I expect we have a bit more sideways and up for the rest of June. I am not expecting the ultimate market low until middle to late Q3.”

BTC/USD one-day chart. Source: Mark Cullen/X

With slightly different timing, crypto commentator ColinTalksCrypto had similar expectations. BTC/USD, he noted, had closed below a key long-term trend line, the 200-week simple moving average (SMA).

“Thus, we likely get a bounce for a 1-3 months and then a drop to a new low in Q4,” he argued.

ColinTalksCrypto said that Q4 “has high odds of being the cycle bottom.”

BTC/USD one-week chart with 200SMA. Source: Cointelegraph/TradingView