Analysts say Bitcoin hasn’t bottomed; expect relief rally then $40k-$55k

Bitcoin relief rally, not bottom. Analysts see $55k next and low $40k later this year.

Crypto analyst Leshka says Bitcoin hasn’t bottomed. He points to repeated failures above $72,000 and calls for a drop toward $55,000, with a possible macro bottom near $50,000. Source: Leshka on X.

He adds that prior bear markets bottomed after much deeper drawdowns. Not 47%. At least 78%, with ~87% in 2013, ~84% in 2017, and ~73% in 2021. Sources: Leshka on X, Bitcoinist.

Doctor Profit aligns with this view. He expects a local bottom at $57,000–$60,000, then a break below $50,000 into the low $40,000 for the macro bottom, likely in September–October. Source: NewsBTC.

On-chain signals mark a relief rally. Julio Moreno says the Bitcoin Bull Score Index hit 30, the highest since late October. The phase moved from “extra bearish” to “bearish,” with bull flags for exchange flows, stablecoin liquidity growth, and price momentum. He still labels the market as bearish. Source: Moreno on X.

Market structure echoes past bear cycles. Benjamin Cowen notes price often grinds up longer, then drops fast, sets a low, trends up weeks to months, and drops again. Source: Cowen on X.

Spot check. Price trades near $69,300 at publication. Source: CoinMarketCap.

Key levels to watch:
- Resistance at $72,000 (Leshka)
- Near-term downside targets $55,000 and ~$50,000 (Leshka)
- Macro bottom window low $40,000 in Sep–Oct (NewsBTC)