Analysis: Multiple indicators are signaling a bottoming-out phase, and some analysts believe Bitcoin may potentially restart a bull market between September and October

BlockBeats news, July 13: Although Bitcoin has recently fallen to around $62k amid an escalation of the US-Iran conflict, some market analysts believe this current bear market may end between September and October this year, and that the bull run could start earlier than the market widely expects.

Trader Ryker said the market broadly expects the next bull cycle to begin in 2027, but market makers often position themselves early. Therefore, he expects Bitcoin to start rising in September or October this year. Trader Jelle added that Bitcoin’s weekly chart has shown a “death cross.” Historically, this signal typically appears near the end of a bear market, suggesting the market may have entered a new accumulation phase.

However, in the short term, Bitcoin still faces pressure. Analysts believe $64k remains a key resistance level, and if it cannot be broken, a further pullback to around $57.8k cannot be ruled out.

In addition, this week the market will also see the US June CPI and PPI data, as well as Federal Reserve Chair Kevin Warsh testifying before Congress. At the same time, the escalation of the US-Iran conflict and heightened tension around the Strait of Hormuz, which are lifting oil prices and inflation expectations, may continue to disrupt risk assets including crypto assets.

On-chain data: CryptoQuant shows that on July 13, mid-sized holder addresses holding between 100 and 1,000 BTC net sold about 67k BTC, marking the largest distribution scale since February of this year. However, the firm noted that historically, similar distribution behavior often occurs on the eve of price rebounds. While the current signal is not sufficient to confirm a market bottom, it is already close to the historical range in which a major shift in behavior among mid-sized investors tends to occur.