Did Bitcoin Just Hit Its Bear Market Bottom at $57.7K?

Bitcoin recently saw a dip to $57,700 at the end of June. Some market analysts suggest this could represent the final stage of the current bear market. Research from July indicates that Bitcoin followed a projected correction pattern quite closely, even after accounting for unexpected geopolitical tension and shifts in Federal Reserve policy.

Technical indicators like oversold stochastic readings and historically low sentiment previously pointed toward a potential bottom. Analysts are now keeping a close eye on the 21 week moving average. If Bitcoin can stay above this level, it might signal a shift back toward a long term uptrend.

However, not everyone is convinced the worst is over. Skeptics point to a significant decline in spot Bitcoin ETF flows. While these funds were a major force behind price increases in previous years, they have seen net outflows of about 120,000 BTC in 2026. This lack of institutional buying pressure remains a primary concern for those waiting for a confirmed recovery.

Bitcoin recently traded near $63,000 after failing to hold gains from positive inflation data. With the price still sitting well below its all time high, traders remain cautious. Watching the 21 week moving average and ETF volume will be the next important steps to see if this market finds firm footing.