Bitcoin's Bear Market Already Underway, Industry Analyst Signals $56K-$60K Target

The cryptocurrency market may be grappling with a prolonged downtrend more serious than initially perceived. According to recent analysis shared on the Milk Road program, CryptoQuant’s Research Director Julio Moreno has indicated that Bitcoin potentially entered bear market conditions approximately two months prior to present assessments.

Moreno’s evaluation draws on technical indicators, particularly the one-year moving average, which serves as a critical barometer for long-term market sentiment. By analyzing this metric alongside historical Bitcoin performance patterns, the analyst has constructed a framework suggesting where market equilibrium might stabilize.

Market Recovery Forecast

The projected bear market floor presents a specific range for investors monitoring Bitcoin’s trajectory. Over the coming twelve months, Moreno’s calculations suggest potential support levels could materialize between $56,000 and $60,000. This forecast incorporates both fundamental market dynamics and historical cyclical patterns that have governed Bitcoin’s recovery phases.

Current market conditions reflect the ongoing pressure on digital assets. With Bitcoin trading in the mid-$91K range and displaying a one-year performance decline of approximately 7%, the gap between current valuations and projected support levels underscores the significance of the analytical framework being presented.

The distinction between acknowledged bear markets and unrecognized downtrends lies in recognition timing. Moreno’s contribution to this discourse emphasizes that technical confirmation—rather than emotional market reactions—provides the most reliable indicator for positioning strategies during uncertain periods.