Benjamin Cowen predicts BTC will form cycle bottom in Q4

Cryptocurrency analyst Benjamin Cowen said on X that Bitcoin (BTC) is currently facing selling pressure between its bear market resistance zone and the 200-week simple moving average (200W SMA). He added that if this downward trend is confirmed in the coming months, investor sentiment could be significantly dampened. Cowen projected that this movement is likely part of the process of forming a market cycle bottom in the fourth quarter of this year.