I think that although the oscillating rebound during Bitcoin's second major downward trend hasn't ended yet, the process has already completed about 80%.

Let's review the previous movement: On November 22, 2025, the price briefly dipped to around 80k, then spent a full 70 days moving within a consolidation zone during a downward correction, with the high point around 98,000.
It wasn't until February 5, 2026, that it dropped again to 60k, then started a new round of consolidation.
The pressure released during this decline was very large, so this oscillation pattern will likely last for several months.
So far, this consolidation zone has lasted 76 days.
Based on the currently extremely negative funding rates, many are speculating that after this consolidation ends, a sharp drop is highly probable.
What I especially want to say is that even if 60k is truly the bottom of this bear market, the market won't just break upward directly.
From the perspective of market psychology and capital game theory, it’s highly likely that it will first break below 60k, sweeping out those long positions near 60k, before truly moving upward.
So, considering 60k as the bottom of the bear market right now, I think it's still too early.
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