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Bitcoin's $60K low in Feb likely marks this cycle's bottom, says K33 Research amid unique market patterns.

Market News
20 May 2026
Benzinga
View Source
Neutral
pluang ai news

Bitcoin dropped 6% after revisiting its 200-day moving average near $82,000, but K33 Research argues the $60,000 low in February is the maximum drawdown for this cycle. Unlike previous cycles, Bitcoin's current pattern shows a longer, slower decline without the quick recoveries seen before. Institutional investors reduced holdings by 26,733 BTC in Q1, while retail investors increased theirs. Heavy outflows are common when Bitcoin trades near its cost basis, supporting the view that the February low holds as the cycle bottom.

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