Galaxy Digital, NYDIG, and Standard Chartered each published in-depth Bitcoin (CRYPTO: BTC) bottom analysis this week—and reached three completely different conclusions on where the cycle low lands.
Galaxy Says Bottom Is Still Ahead Between $40,000 and $46,000
Galaxy examined 13 historical conditions that have always been present at prior Bitcoin cycle bottoms.
Only four are fully met, two are partially met, and seven remain unmet.
The most sobering gap is in on-chain fundamentals, where several metrics show aggregate holders are not yet capitulating at the scale seen in 2018 or 2022.
The cycle clock adds weight to Galaxy’s bearish case.
Bitcoin historically bottoms 12 to 13 months after its all-time high, and the current cycle peaked in October 2025, putting the historically consistent bottom window in Q4 2026.
Meanwhile, Galaxy’s base …
