Bitcoin's tumble below $60,000 at the start of the year has been rough, but three well-known analysts now say the selloff may have run its course. In a flurry of posts on Friday, Ali Martinez, Michaël van de Poppe and Merlijn The Trader each laid out why they think a local bottom is in.
The on-chain case
Ali Martinez pointed to improving on-chain data and technical indicators. Selling pressure has faded, he said, while long-term accumulation continues. He also flagged the TD Sequential flashing a major buy signal on Bitcoin's monthly chart in July — a rare signal that identified the last market bottom back in 2022. For Martinez, the pieces line up: the panic is over, and the dip buyers are quietly stacking.
A healthy reset, not a bear market
Michaël van de Poppe took a broader view. He argued Bitcoin's slide toward $60,000 resembles previous bull-market corrections — a healthy reset rather than the start of a deeper bear phase. In his telling, the pullback shakes out weak hands and resets sentiment, which historically sets up the next leg higher. It's a familiar refrain from van de Poppe, who has consistently framed drawdowns as buying opportunities within an uptrend.
The breakdown-and-reclaim pattern
Merlijn The Trader focused on price action. He noted Bitcoin completed a classic breakdown-and-reclaim pattern — a move where price breaks below a key level, then quickly recovers it. That pattern, he said, frequently marks the end of corrections. It's a technical signal that traders watch closely, and its appearance on Friday added to the bullish chorus.
The contrarian history
There's a reason these calls are getting attention. Bitcoin has a habit of moving opposite to prevailing expectations. It rallied hard after the COVID crash and again after the FTX collapse — moments when the crowd was most bearish. On the flip side, it slumped after the October 2025 crash and the subsequent 55% correction, catching bulls off guard. The lesson, the analysts caution, is that markets rarely reward the obvious trade.
So while the three bulls are aligned, they're not telling anyone to go all in. The same historical pattern that makes a bottom plausible could just as easily deliver another surprise. For now, the signal is there — but the size of the bet is a separate question.
