Analyst: Bitcoin’s February Dip to $60K Marked Cycle Low

Popular crypto analyst Ash Crypto has stated that Bitcoin’s drop to round $60,000 in February 2026 was the underside of the present market cycle, based mostly on a sample he says has performed out exactly throughout the previous two cycles.

If he’s proper, the king cryptocurrency might already be within the early levels of a brand new leg larger.

The 23-Month Pattern Behind the Call

Ash Crypto’s argument is straightforward:

“Each cycle, BTC has made a brand new ATH,” he wrote on X. “And the underside occurred precisely 23 months after making a brand new ATH.”

To again his idea, he went again to January 2017 when BTC hit an all-time high. This was adopted 23 months later by a cycle low in December 2018.

The similar factor occurred within the cycle after that, the analyst stated. BTC hit its peak in December 2020, and 23 months later, in November 2022, it bottomed.

“This cycle, Bitcoin made a brand new ATH in March 2024. If it goes by historical past, the underside has already occurred in February 2026 (23 months),” the analyst concluded.

This was proper across the time BTC touched the $60,000 stage, then went again above $70,000.

The timing alone could be straightforward to dismiss, however Ash Crypto added three technical indicators that every one fired in the course of the low earlier within the 12 months. The weekly RSI dropped to a four-year low. The sentiment index hit its worst studying on file. And Bitcoin retested the 2021 cycle high.

“All this stuff mixed have beforehand marked the underside for Bitcoin,” he wrote, “and possibly ‘THIS TIME IT’S NOT DIFFERENT.’”

On-chain information from analyst Ali Martinez tells the same story, at the very least partially. Bitcoin’s Sharpe Ratio collapsed to -43 earlier than recovering to round 20, suggesting that the market absorbed the worst of the promoting.

At the identical time, the share of Bitcoin’s realized market cap held by individuals who purchased inside the final month has fallen beneath 7%, which in previous cycles has meant retail is basically gone and provide has settled into stronger fingers.

Bears Aren’t Convinced

Fellow analyst Ted Pillows is seeing issues otherwise. According to him, a small bounce had occurred, however he nonetheless anticipated new lows on the upper timeframe.

“That’s usually the way it works,” he wrote. “Temporary power pulls folks in and finally ends up turning into exit liquidity.”

Bitcoin was buying and selling round $78,500 on the time of writing, and Ash Crypto sees two paths from right here: a day by day shut above $80,000 that would push BTC to $86,000 to $90,000, or a rejection that pulls it again into the $68,000 to $74,000 vary.

Its newest bounce was helped alongside by information of an prolonged US-Iran ceasefire, which lifted the broader market earlier than contemporary stress experiences stopped the OG crypto simply wanting $80,000.

On his half, Martinez has flagged $73,700 because the quantity to watch. Hold it, and the highway to $96,000 stays open. Lose it and the bullish backside name begins to look shaky, with $55,000 again within the dialog.

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