🚨 Bitcoin: Have we already reached the bottom?

Bitcoin has recently returned to trading above the $86,000 level, approaching its highest levels in recent months, bringing it back into the spotlight for the crypto market.

But Mike McGlone, head commodity strategist at Bloomberg Intelligence, raised an important question:

Was the $60,000 area actually the real bottom of this corrective wave? 🤔

📉 Is the $60,000 level really the bottom?

According to McGlone, it’s still too early to assert that the $60,000 area—reached by Bitcoin earlier in 2026—represents the final bottom of this cycle.

He pointed to a possible similarity between the current Bitcoin move and what happened to crude oil prices after they broke above $100 in 2008 🛢️.

After Bitcoin posted its first monthly close above $100,000 in January 2025, the market entered a strong correction phase. McGlone believes this may resemble, in some ways, the correction seen in oil prices after they historically broke above $100 per barrel.

And here comes the most important question:

👉 Was the downward move toward $60,000 enough to end the correction, or could Bitcoin test this area again?

⚠️ Global economic factors still matter

McGlone believes that the global economic and financial environment could create additional pressure on Bitcoin.

📈 Stock markets at elevated levels

💵 U.S. Treasury bond yields exceed 5%

💰 Traditional investments are now offering higher returns to investors

This means there is stronger competition for capital compared to assets that don’t provide traditional yield, such as Bitcoin.

McGlone also noted that the rise in 10-year U.S. Treasury yields could make income-generating assets less attractive compared to some fixed-income instruments.

🔥 Can Bitcoin return to $60,000?

The key point here is that the correction that began after Bitcoin surpassed $100,000 may not necessarily be over.

With Treasury bond yields continuing to rise, potential risks in stock markets, and changes in liquidity levels, McGlone says the $60,000 area should not automatically be considered the final bottom of this cycle.

This doesn’t mean Bitcoin will definitely return to $60,000, but the possibility of retesting this area is still on the table among the scenarios the market is discussing. 👀

🤔 What do you think?

🚀 Do you think Bitcoin has already found the bottom?

📉 Or could we see a new correction before the next upward wave starts?

📎 How do you start?

You can sign up for Binance from here:

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