In the past several cycles, this area has often closely matched the market bottom. Although he cautions that this does not guarantee that a new bull run has started, it usually indicates that at least one short-term rebound will occur. Another factor supporting the rebound view is the distance between Bitcoin and the 50-week moving average (approximately $102,000). According to analysis, in past cycles, Bitcoin has often pulled back to this level after falling below the moving average. The current expectation is that Bitcoin may experience a rebound, bringing the price back into the six-figure range, and then a deeper trend may develop in the future.