Analyst: Bitcoin may be entering the late stage of a bear market, and it is expected to rise to $250k within the next two to three years

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Mars Finance news: Real Vision chief crypto analyst Jamie Coutts said Bitcoin may be entering the late stage of this bear market cycle, even though the bear market has not ended yet, downside momentum has started to weaken. The current BTC price is down about 50% from the all-time high of $126,100 set in October 2025. Coutts called the current trend “typical for a bear market” and noted that Bitcoin’s volatility is down about 50% versus the previous cycle, which suggests this round of declines may not be as severe as earlier bear markets. However, he warned that all prevailing trend indicators are still clearly bearish, and the market will not mechanically repeat past cycles. He said that momentum indicators over longer timeframes are beginning to show bullish divergence, indicating negative momentum is slowing, but that does not mean Bitcoin has technically exited the bear market. In addition to global liquidity tightening, deteriorating on-chain demand was also an important reason for Bitcoin’s earlier declines. For long-term price forecasts, Coutts is cautious about Bitcoin reaching $1 million in 2030. He is more willing to predict that in the next two to three years, BTC could rise to between $200,000 and $250,000. He also warned that the Bitcoin community needs to respond more clearly to the potential threat from quantum computing before 2027, because major protocol upgrades may take about five years.
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