Bitcoin Could Drop to $38,000 Following Bear-Market Patterns, NYDIG Report Suggests

BTC1.55%
According to a NYDIG report, Bitcoin has declined approximately 30% year-to-date and was recently priced at $64,809, down roughly 50% from its October all-time high of $126,080. The analysis suggests that Bitcoin's current drawdown mirrors historical bear-market patterns from 2014, 2018, and 2022, with a potential cycle low near $38,000–$39,000. NYDIG noted that Bitcoin's underperformance compared to other risk assets is driven by supply mechanics rather than risk sentiment.
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