Analyst Cautions That Bitcoin Bear Market Low May Occur in October 2026

Written by Emily J. Thompson, Senior Investment Analyst

Source: Benzinga

Updated: Nov 05 2025

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Source: Benzinga

Bitcoin's Potential Mid-Cycle Peak: Analyst Benjamin Cowen suggests that Bitcoin may be at a mid-cycle peak similar to its 2019 performance, with a deeper correction expected ahead. He raised the probability of this peak from 40% to 50%.
Historical Patterns and Future Predictions: Cowen notes that the current macro conditions resemble those of 2019, predicting that if confirmed, the bear market bottom could occur by October 2026, aligning with previous cycle patterns.
Indicators and Market Sentiment: While traditional indicators have not yet triggered, Cowen warns that any future rally is likely to be Bitcoin-led, with altcoins potentially underperforming and falling further against Bitcoin.
Market Exhaustion and Dominance: Cowen anticipates a surge in Bitcoin dominance until December, followed by weakening momentum as quantitative tightening ends, cautioning that new highs may be marginal due to market exhaustion and macroeconomic challenges.

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Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.