Bitcoin has steadied, holding above $78,000 following its weekend bloodbath, but it’s still down more than 10% in the past week as sentiment remains cautious. Bernstein analyst Gautam Chhugani wrote that we may still be in a short-term crypto bear cycle, but he anticipates a reversal most likely in the first half of 2026, “leading to Bitcoin bottoming out around its last cycle highs ~60K range.” “We expect the reversal to be swift and setting a new solid higher base for what could be the most consequential cycle for Bitcoin and potentially lay the foundation for the Bitcoin sovereign cycle,” Chhugani wrote in a ... (full story)