Bitcoin (CRYPTO: BTC) may be entering a prolonged phase of apathy, what analyst Benjamin Cowen calls the “Bear Market Blues,” where downside risk remains elevated before any durable recovery takes shape.
What Happened: In a recent podcast, Cowen argued that Bitcoin’s current setup closely resembles 2019, when prices topped just as quantitative tightening (QT) was ending.
With QT now winding down again, he believes the four-year cycle precedent points to further downside rather than an immediate rebound.
Unlike prior cycle peaks driven by retail euphoria and altcoin manias, this downturn is marked by indifference.
That lack of speculative excess makes the drawdown feel slower and heavier. Cowen warns that, as in …
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