Benjamin Cowen says it is too early to call an end to BTC bear market despite $81.3K rebound

Crypto analyst Benjamin Cowen said it is still too early to conclude that Bitcoin’s bear market has ended, even after BTC rose above $81,280. Cowen said temporary pullbacks during the formation of a golden cross have appeared in the past. Cowen added it matters more how the current rebound ends than the decline seen in early September. If BTC breaks above its previous high, sets a higher high as it did in 2019 and 2023, and closes the weekly chart above the 50-week simple moving average, or 50W SMA, that could signal the bearish trend has eased. If it instead meets resistance at current levels and forms a lower high than before, the bear market could continue in a pattern similar to 2014-2015, Cowen said.