Analysts: The assessment of the Bitcoin bear market as being in its mid-stage has "obvious flaws," and $60,000 may already be the bottom of this cycle.

CoinFeed reported on May 9th, citing Cointelegraph, that cryptocurrency analyst Matthew Hyland stated that Bitcoin may have bottomed out around $60,000 in early February, and a lower price later this year is unlikely. He pointed out that dozens of bottoming signals appeared simultaneously when Bitcoin reached $60,000 in the first quarter of 2026, signals that don't appear in the middle of a bull market. Hyland believes that this judgment is clearly flawed, as bottoming signals only appear at true bottoms, not in the middle of a bear market. Previously, veteran trader Peter Brandt believed that $60,000 might not be the lowest point in 2026, and Willy Woo stated that Bitcoin has only completed about one-third of its bear market journey.