BTC has not yet shown signs of a bottom, analyst says

On-chain analyst Axel Adler Jr. argued that Bitcoin has historically ended its bear markets and begun to rebound only after a significant price drop, a signal that has not yet appeared in the current cycle. In a post on X, he stated that while many influential figures are claiming Bitcoin has already formed a bottom, a model based on the past four cycles indicates otherwise. According to Adler, bear markets have always concluded after a major decline, a phase he believes the market has not yet entered.