NewsBTC •
February 6, 2026 at 10:00 •
Analysis
The Bitcoin price is currently trading under immense bearish pressure, and the downtrend might not yet be over. Bitcoin has now broken below $70,000 and has extended its decline below $65,000. This price action is part of an extended corrective phase that began after Bitcoin topped out at $126,000 in October 2025, and crypto participants have different outlooks as to when the correction will reach a bottom. Amid the uncertainty, an outlook from a crypto analyst known as Sherlock is gaining traction on X, as it points to historical market bottoms that suggest Bitcoin may still be headed significantly lower. Past Drawdowns Show A Clear Pattern Across Bitcoin Cycles Sherlock’s analysis focuses on how deep Bitcoin has fallen during past bear markets and how those declin...
