Bitcoin has fallen over 50% from its October high of $125,000 to below $60,000. Grayscale Research views this pullback as a cyclical correction within a long-term uptrend. The bottom depends on Fed interest rate decisions and Senate progress on the CLARITY Act. Current valuation is seen as a favorable entry for long-term investors.
Grayscale: After Halving, BTC Nears Cycle Bottom
Bitcoin price has dropped over 50% from its October high of $125,000 to below $60,000. Grayscale Research considers this pullback a cyclical correction within a long-term bullish trend. Whether the bottom is in depends on the Fed's rate hike decisions and the progress of the CLARITY Act in the Senate. The current valuation is regarded as an attractive entry point for long-term investors.
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