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Bitcoin may drop to $38,000 before recovering, warns NYDIG amid mixed analyst views.

Market News
17 Jul 2026
Cointribune
View Source
Bearish
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NYDIG warns that Bitcoin could face a significant sell-off, potentially dropping to between $38,000 and $39,000 by October 2026, reflecting a 70% decline similar to past cycles. This forecast is based on historical bear market patterns, despite 2025 showing unusually low volatility and no major investor capitulation. Other analysts disagree, with some like K33 Research and Standard Chartered suggesting the bottom is already near $58,000-$60,000, while others remain cautious about a prolonged bear market. The market is currently in a contraction phase with over half of Bitcoins in circulation at a loss, signaling a critical period before a potential new bull cycle.

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