Key facts
- Bitcoin briefly traded below $60,000 on June 5th.
- Analyst CryptoCon projects Bitcoin could reach a cycle bottom of $28,500.
- This projection is based on the 'Bear Bands' indicator.
- The cycle bottom is expected between November 2026 and January 2027.
- A drop to $28,500 would be a 77% decrease from Bitcoin's all-time high.
- Bitcoin has fallen over 15% in the last seven days.
Bitcoin briefly traded below $60,000 on June 5th, influenced by bearish pressure. A crypto analyst known as CryptoCon, who accurately predicted the peak of the recent bullish cycle, has now projected a potential bottom for Bitcoin. Using their 'Bear Bands' indicator, CryptoCon suggests Bitcoin could fall to $44,500 and ultimately reach a cycle bottom around $28,500. This bottom is anticipated between November 2026 and January 2027. A drop to $28,500 would represent a 77% decrease from Bitcoin's all-time high. Bitcoin recently experienced a sharp sell-off, with bears briefly dragging the price to $59,100 before buyers lifted it above $61,600. As of 8 a.m. EDT on June 6, 2026, bitcoin was trading between $60,800 to $61,000.