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Bitcoin nears new bull market with bottom at $57,000, says analyst citing strong accumulation and technical signals.

Technical Signals
16 Oct 2026
Tokenpost
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Bullish
Bitcoin nears new bull market with bottom at $57,000, says analyst citing strong accumulation and technical signals.

Bitcoin is trading in the $80,000 range, with crypto analyst Lark Davis suggesting the market bottom is around $57,000 based on multiple on-chain and technical indicators. He points to record accumulation by large holders and a positive two-week MACD as signs the market may be entering a new bull phase. Davis also discussed Bitcoin ETF flows, comparisons with gold ETFs, and the broader four-year Bitcoin cycle, indicating optimism for prices potentially reaching $80,000 to $95,000 amid volatile trading conditions.

Bitcoin's potential new bull market is the focus, with Pluang data showing a mixed day among major cryptocurrencies as of Oct 17, 2026 07:21 WIB: out of 50, only 13 rose while 36 fell. Notably, ZIL dropped 24.12% despite 100% buy order activity and a long typical hold time of 133 days, contrasting with BAL's 11.14% gain and shorter hold time of 85 days. BAT fell 8.43% with a majority of sell orders at 75%, held typically for 93 days, illustrating varied investor behavior across assets.

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