Bitcoin Final Bear Leg: Will BTC Drop to $35,000?

Bitcoin currently trades around $64,000, which is roughly 49% below its previous record high. Seasonal patterns from past market cycles point to one final bear leg before a true cycle bottom forms. Analysts studying historical charts suggest that late year declines could drag the price down to $46,000, with a deeper seasonal extension potentially reaching $35,000 by early next year.

At the same time, several on chain metrics suggest that patient buyers are already stepping in at levels usually seen near generational lows. The ratio between short term and long term holder cost bases is falling fast, while long term investors continue to absorb more coins than miners produce. Furthermore, the Bitcoin Price Temperature indicator sits near zero, which historically marks major market bottoms rather than the start of a deeper crash.

Investors should watch key levels closely over the coming months as these signals play out. A weekly close below $44,000 or further cost basis compression would point toward the deeper price targets, while steady accumulation could confirm that the worst of the bear market is already behind us. Traders are keeping a close eye on the charts as Q4 approaches.