Kaiko: Bitcoin drops below $60,000 may mark the "midpoint" of the bear market; historical bottom remains to be seen

Deep Tide TechFlow News, February 10 — According to Cointelegraph, Kaiko Research analysis indicates that Bitcoin dropped to approximately $59,930 at the beginning of this month, hitting a new low since October 2024, which may mark the “midpoint” of the current bear market. The market has now moved away from the frenzy phase following the halving and entered a bear market period that typically lasts about 12 months, paving the way for the next accumulation phase. On-chain indicators and mainstream crypto asset performance show that the market is approaching a key technical support level, which will determine whether the four-year cycle framework continues. Spot trading volume on major centralized exchanges has decreased from about $1 trillion in October 2025 to $700 billion in November, a decline of approximately 30%. The total open interest of Bitcoin and Ethereum futures contracts has also fallen from $29 billion to $25 billion, indicating ongoing deleveraging in the market. As multi-cycle oversold indicators appear, Bitcoin’s rebound is more about “when it will happen” rather than “if it will happen.”