BTC: The Bitcoin A-B-C wave structure is largely fulfilled, and the bear market may be close to ending

Deep Tide TechFlow news—On July 17, according to BIT’s weekly report, 《On Target》, Bitcoin has sharply fallen from $97,000 to $62,900 since February 9, 2026. This comes amid increased pressure from tightening market liquidity, driven by President Trump’s nomination of a hawkish figure, Kevin Wosh, to serve as Chair of the Federal Reserve, as well as large-scale forced liquidations of leveraged positions. The report notes that the previously expected A-B-C wave pattern has broadly matched expectations: the low of Wave A was completed in February; after a rebound to $82,000 during Wave B, Bitcoin set another new low on June 30, falling again to $58,500, and the decline of Wave C has already begun.

However, the outbreak of the Iran conflict has pushed inflation higher than expected. The newly appointed Fed chair’s first policy remarks also released a clear hawkish signal, and these two above-expectation factors have introduced uncertainty about the timing of the low point of Wave C. The report believes the bear market may be nearing its end, but two key variables still need to be closely watched; they will be analyzed in depth in this issue of the report.