VanEck CEO Jan VanEck told CNBC that although 2026 represents Bitcoin's historically bearish fourth year in the halving cycle, the recent price action may be carving out a cyclical bottom. He pointed to Bitcoin's fixed supply of 21 million coins and the four-year halving mechanism, which has historically shaped boom-bust patterns after three consecutive years of gains.
Halving Cycle Year Four in Focus
“That’s why we’re in a Bitcoin bear market,” VanEck said. Yet he described the latest rally as “a very nice sign of life” and believes the market could be in the process of bottoming. The move was broad-based — large-cap tokens and publicly traded firms like Coinbase and Circle also participated — but he warned against overinterpreting a single day's price spike.
Technical Setup: Support at $60K, Resistance at $70K
Bitcoin has rebounded from February lows near $60,000–$62,000 and is now consolidating around $67,000. The $60,000 area held as solid support after last month's sharp rejection, suggesting buyers are stepping in at that level. Immediate resistance sits at $70,000, with a broader supply zone between $75,000 and $80,000.
Momentum indicators show selling pressure easing, while volatility has stabilized after February's spike — conditions often associated with base formation. A sustained break above $70,000 would strengthen the case for a cyclical bottom; failure to hold current levels could reinforce the longer-term bear narrative.
Bitcoin rose 6% in the past 24 hours to around $69,000, with all eyes on the $70,000 threshold.