Ben Cowen Says Bitcoin Has 65% Chance of Extending Bear Market, Watching $53,000

Benjamin Cowen, founder of Into The Cryptoverse, says Bitcoin has a 65% chance that the current cycle low hasn’t happened yet, keeping his bear-market thesis alive after a sharp summer rally. In a video interview, he points to Bitcoin’s realized price, which is near $53,000, as the level bears still need to test before a bottom can be confirmed. Bitcoin was trading around $78,300 at publication, down 1.7% over 24 hours, after rising roughly 40% from the summer low. Cowen argues similar or bigger bounces occurred in 2018 and 2022, followed by further declines in midterm-year Q4.