Analysts are divided on the current state of the leading cryptocurrency, though they have noted signs of a local bottom being reached.
An expert known as Zizcrypto pointed out that the current price drop from the all-time high is 39%.
In previous cycles, the decline was deeper: 86% in 2015, 83% in 2018, and 76% in 2022. According to him, losses in bear phases are gradually decreasing as the market matures, yet current conditions still differ from previous cyclical lows.
The founder of MN Trading, Michaël van de Poppe, believes that the leading cryptocurrency has reached a capitulation point.
#Bitcoin is at its capitulation point.
Eleven indicators are signaling that we’re at the best opportunity to buy the asset in the last five years.
The last time all these signals flashed was Q4 2022.
That also resonates with the current market sentiment, where nobody is… pic.twitter.com/I4cqHygdMi
— Michaël van de Poppe (@CryptoMichNL) April 29, 2026
He highlighted several key factors:
- eleven indicators are signaling the best buying opportunity in five years;
- negative funding rates indicate the dominance of short positions;
- the basis of three-month futures has fallen to its lowest since the end of 2022.
Van de Poppe noted that there are almost no leveraged longs left in the market, and everyone who wanted to sell the asset has already done so. An indirect confirmation is the inflow into spot Bitcoin ETFs amounting to $1.5 billion since mid-April. According to the expert, the market has become “spot-driven,” and forced sales have ceased.
Fidelity’s Director of Macro Research, Jurrien Timmer, added that Bitcoin is showing resilience as it attempts to break through the upper boundary of a “bear flag” pattern.
Bitcoin also continues to show resilience as it tests the upper bounds of a potential bear flag. Technical Analysis 101 states that when bear market rallies get overbought (per the stochastics below), it’s usually the kiss of death and time to sell. However, during bull markets… pic.twitter.com/Xn2Xbl5hKD
— Jurrien Timmer (@TimmerFidelity) April 29, 2026
He explained that in a bullish trend, overbought conditions signal market strength rather than an imminent collapse. If the price holds at current levels despite resistance, it will confirm the start of a new growth phase.
On April 29, Bitcoin and many other crypto assets declined following the U.S. Federal Reserve’s decision to maintain the interest rate at its current level.