PANews reported on April 11th that analysts at CryptoQuant, an on-chain analytics platform, wrote that the next Bitcoin bear market has not yet fully bottomed out, and the "Iron Bottom" is expected to appear around December 2026, with a price range of $55,000 to $60,000. This cycle may still need to undergo a "final clearing" before the bottom is fully formed. If historical patterns hold true, the market may bottom out at the end of 2026 and then enter a period of accumulation lasting about two years. This, combined with the expected Bitcoin halving in 2028, suggests that the next bull market peak may occur in the second half of 2029.

It is understood that the analysis is based on multiple indicators, including the MVRV Z-score. Although the indicator has cooled down, it has not yet entered the negative (undervalued) range. Historically, every bear market "ironclad bottom" has been accompanied by the MVRV Z-score falling below the zero axis, which means that the market has not yet entered an extremely pessimistic stage.