Based on the historical bear market cycle patterns, there is still some distance to the real bottom of this cycle, and it’s not advisable to enter too early to buy the dip.

In the fully concluding phase of a complete bear market, it will inevitably be accompanied by a round of high-volume panic selling, used to clear the market of floating supply. This cycle’s price action will also replicate this cycle characteristic.
The market is currently in the fourteenth round of transition and accumulation. After this phase ends, it will see the final round of concentrated probes to the downside.

In the short term, BTC will start a rebound and repair within the 59,000-61,000 range. Afterwards, over the long term, it will trade in a narrow range around above 60,000, continuing to wear the market down until the end of July.
The repeated back-and-forth within the range will keep draining market patience, and many position holders are likely to hand over low-level chips during the consolidation.

By the time the sideways consolidation cycle ends at the end of July, early August will bring the final round of concentrated selling in this cycle. Only after this round of decline is completed will the cycle’s ultimate bottom be officially confirmed.
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