PlanB says BTC has begun bottoming process that may take 1-3 months

Bitcoin has entered a bottoming phase, prominent Bitcoin analyst PlanB said on X. PlanB said BTC closed July at $62,818, while its 200-week moving average stood at around $63,000. PlanB added BTC appears to have begun a bottoming process, which typically takes one to three months, and said the price could decline further during that period.