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BIT has released its latest weekly report, titled "Will the FIFA World Cup Be the End of the Bitcoin Bear Market?" The report suggests that the current bearish trend of Bitcoin is largely consistent with its early February 2026 outlook. The previously predicted A-B-C correction structure has entered its final phase: after Wave A declined to the $60,000 to $69,000 range, Bitcoin rebounded to the $80,000 to $90,000 range, peaking temporarily around $83,000, after which the rebound momentum gradually weakened.BIT points out that the current Fear and Greed Index has approached historically significant low levels, still showing some similarity to the bottom structure of the 2022 bear market. It maintains its previous view that the summer lull during the 2026 World Cup period could serve as the final stage of Bitcoin's current bear cycle.The report states that future focus will be on the key price range for the end of the bear market, macro catalysts for the next bull run, and trend reversal signals from cyclical indicators. If the relevant framework holds, this market bottom could become one of the low points in Bitcoin's history with a relatively concentrated time window and clearly defined triggering conditions.
Bitcoin has fallen below the $77,000 mark, hitting a low of approximately $76,720. Analysts attribute the market decline primarily to multiple macroeconomic pressures, including the renewed escalation of tensions between the US and Iran, rising inflation concerns, and increased risk aversion across risk assets. Former US President Donald Trump issued a strong warning to Iran on social media, intensifying geopolitical uncertainty.Meanwhile, rising oil prices have further elevated inflation expectations, with Brent crude climbing to around $111 and WTI rising above $107. This has sparked concerns that the Federal Reserve may maintain higher interest rates for a longer period.The current selling pressure is also compounded by factors such as rising US Treasury yields, a strengthening US dollar, and ETF outflows. Data shows that Bitcoin ETFs saw net outflows of approximately $1 billion in the week ending May 17, ending six consecutive weeks of net inflows.In terms of market sentiment, the Bitcoin Fear and Greed Index has fallen back to 27, re-entering the "fear zone." Analysts believe that short-term trends will remain highly dependent on macroeconomic data and policy expectations. However, some institutions view the current correction as a "healthy digestion" period, suggesting the long-term structure remains unchanged. (The Block)