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#CryptoMarketPullback Bitcoin (BTC) experienced a significant decline due to a combination of factors such as macroeconomic data, geopolitical tensions, increased outflows from spot ETFs, and a slowdown in regulatory momentum in the US.
BTC, for the first time, lost more than $10,000 in a single day, testing the $60,000 threshold.
The movement in Bitcoin's price also brought historic bear market records back to the forefront in other markets. In percentage terms, Thursday’s daily candle was the largest daily decline seen since the FTX collapse.
Trader Jelle commented, “Yesterday was the day with the highest trading volume in Bitcoin since August 2024. A historic event.” As the decline in Bitcoin continues to deepen, an analyst warned that the recovery in BTC price could take several years.
Bitcoin Recovery Could Reach 2028!
Crypto analyst Rekt Capital painted a pessimistic picture for Bitcoin bulls and pointed to 2028 for a genuine recovery.
While the analyst noted that a recovery in BTC might not happen before 2028, he outlined a typical bear market year scenario for 2026.
The analyst, who drew a three-year chart for Bitcoin, expects a bear market in 2026, a bottoming out in 2027, and finally a recovery and trend reversal in 2028.
INVESTMENT ADVICE IS NOT RECOMMENDED
$BTC $GT