Bitcoin (CRYPTO: BTC) bounced above $63,000 on Monday, yet the bottom may take a while to form, according to a prominent technical analyst.
“BTC Has Entered Stage Three“
In a podcast on June 7, crypto analyst Benjamin Cowen argued that investor psychology is now approaching the point historically associated with major bottoms.
He outlined a three-stage bear market framework based on sentiment shifts rather than traditional technical indicators.
Cowen said the first phase began after Bitcoin’s October 2025 peak, when only a small group of investors believed a bear market had started.
