Bitcoin Shows Signs of Bottoming After 30% Decline from Peak

Investors are questioning if bitcoin has reached its bottom after a prolonged downtrend.

Recent price action indicates bitcoin may have hit its low just above $76,000 on March 10.
The asset fell 30% from its all-time high of $109,000 on January 20.
After the low on March 10, higher lows were recorded: approximately $78,000 on February 28 and slightly above $81,000 on March 31, forming a triangular bottom.
A similar pattern occurred during the yen carry trade unwind in August 2024, with a low near $49,000 on August 5 and higher lows on July 7 and September 7.
In January 2024, the launch of U.S. spot bitcoin ETFs led to a 20% correction, reaching just below $40,000 on January 23, again with higher lows on either side.
Omkar Godbole from CoinDesk Markets notes signs of a bullish structure, indicating seller exhaustion and a potential shift from lower lows to higher lows.
External risks, such as tariffs, could affect momentum.