Grayscale Signals Bitcoin May Have Found Its Long-Term Bottom
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Grayscale says Bitcoin may have found its long-term bottom as its drawdown is about 50% from the cycle peak versus roughly 80% in past bottoms, and a sustained rebound could signal renewed accumulation and institutional demand. Bitcoin traded near $77,282 on Aug. 22, slightly above its 50-week moving average of about $77,234, but Grayscale cautions macro conditions, liquidity and investor sentiment will determine if the recovery holds.
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Bitcoin may have already reached a long-term bottom, according to Grayscale, as this week’s rebound raises questions about whether the cryptocurrency will suffer another major decline in 2026.
The asset manager pointed to historical cycles and Bitcoin’s smaller drawdown from its record high. Bitcoin has fallen about 50% from its cycle peak, compared with declines of roughly 80% during previous market bottoms.
A sustained rebound could signal that investors are returning to accumulation, Grayscale said. Macro conditions, liquidity and investor sentiment could still determine whether the recovery holds.
Related: Bitcoin Eyes $100K After Shallow Pullback as Institutional Demand Returns
Bitcoin Tests Key Technical Level
Bitcoin traded near $77,282 on Aug. 22, slightly above its 50-week moving average of about $77,234, according to TradingView data on…
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