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James Van Straten observes that Bitcoin is not following its typical bear market pattern, where new lows are usually set between days 250 and 300.
According to Van Straten, on day 294 of this bear market, Bitcoin has continued to grind higher, with approximately 60 days statistically remaining. He adds that he believes this cycle may be shorter in duration and expects the market to bottom before the traditionally expected timing in the fourth quarter.
Earlier this year, Van Straten reported that Bitcoin declined for three consecutive quarters while gold posted its worst quarter in 13 years. He also noted Amazon’s $25 billion bond sale ranked among the year’s largest, with demand at 1.6 times the offering. These earlier observations provide additional context for his ongoing analysis of Bitcoin’s price cycles.