Bitcoin’s slide to roughly $59,000 — a move that sparked fresh fear across the market — hasn’t rattled everyone. Crypto analyst Alex Mason says the drop was expected and, rather than signaling doom, it may mark the start of the final phase of this extended bear market.
Mason’s reading: after more than a year of downward pressure, the $59,000 low and the quick rebound to about $61,000 act as confirmation that Bitcoin is entering the bear-market’s closing stage. From there he expects a short-lived bounce to roughly $65,000 — a recovery that won’t yet qualify as full bullish confirmation.
According to Mason, that $65,000 pop will set the stage for a larger decline back toward the mid-$50,000s, with $57,000 acting as an initial support level. He warns that this will likely give way to a deeper correction into the $40,000 range, with a decisive support zone appearing near $47,000. It’s from that $47,000 floor, Mason predicts, that a sustained bull market will begin.
Looking farther out, the analyst foresees Bitcoin eventually reclaiming six-figure territory; his nearer-cycle target sits near $200,000 (roughly a 200% rise from today’s levels). Mason has also previously mapped price action against the Bitcoin Rainbow Chart, which in earlier work implied an even loftier cycle peak — as high as $400,000 around 2029.
These are Mason’s expectations and roadmap for the next phases of the cycle; as always, such projections are speculative and depend on macro conditions, market sentiment, and on-chain dynamics.
Read more AI-generated news on: undefined/news
