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Bitcoin rebounds above $63,000 but may still face a prolonged bottoming phase, warns analyst.

Market News
08 Jun 2026
Benzinga
View Source
Neutral
pluang ai news

Bitcoin bounced back above $63,000, yet analyst Benjamin Cowen warns the cryptocurrency has entered the third stage of a bear market, which could last through Q3 or into October. This phase is marked by increasing negative investor sentiment, though not yet at extreme levels that signal a major reversal. Another analyst, Michael van de Poppe, notes Bitcoin is testing key support levels and may be nearing a bottom or consolidation period, potentially leading to a rebound where strong altcoins could outperform.

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