Ben Cowen: Bitcoin’s bottom likelihood is only 25%, a potential 70% drop aligns with historical patterns, and the $60k level is critical for market assessment | The Wolf Of All Streets

Bitcoin's potential drop to the 30-50k range could mark a significant market bottom this cycle.

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Add us on Google by Editorial Team Apr. 12, 2026

Key takeaways

• The probability of Bitcoin’s bottom being in for the current cycle is low, around 25%.
• Bear markets often trend upward more than downward, complicating market navigation.
• A Bitcoin drop to the 30-50k range could signal a convincing market bottom.
• Historical indicators suggest further declines in Bitcoin are more likely than a bottom.
• Bitcoin typically bottoms below the realized price at the end of bear markets.
• A potential 70% drop in Bitcoin’s price aligns with previous bear market patterns.
• Bitcoin is expected to break below $60k later this year, but the drop may be brief.
• A new all-time high for Bitcoin this year is considered very unlikely.
• Social interest in crypto has been declining since 2021, indicating reduced retail participation.
• Historical price movements and market indicators are crucial for understanding Bitcoin’s potential lows.
• The $60k level is significant in Bitcoin’s historical price movements.
• Retail investors have been leaving the crypto space since 2021, impacting market dynamics.
• Bitcoin’s price trajectory is heavily influenced by macroeconomic trends and historical patterns.
• The realized price is a critical level for assessing Bitcoin’s market bottom.
• Understanding market cycles and investor psychology is essential for navigating bear markets.

Guest intro

Ben Cowen is Founder and CEO of Into The Cryptoverse, a crypto analytics platform offering subscription-based market reporting, price research, and risk analysis. He holds a PhD in nuclear engineering from the University of New Mexico and previously worked as a postdoctoral researcher at Sandia National Laboratories. Cowen gained recognition for accurately identifying historical altcoin bleed cycles and the rise of Bitcoin dominance in bear markets.

The probability of Bitcoin’s bottom being in

• There is only a 25% chance that the bitcoin bottom is in for this cycle.

  — Ben Cowen

• Historical trends and market conditions suggest a cautious outlook on Bitcoin’s bottom.
• Bitcoin’s historical price cycles indicate further declines are more likely.

• I would say the likelihood that the low is in is probably only like 25%.

  — Ben Cowen

• The current market conditions require understanding of Bitcoin’s pricing history.
• Investors should consider the statistical assessment of Bitcoin’s market.

• It’s not like it’s impossible but I would say it’s much more likely that we do eventually go lower.

  — Ben Cowen

• The probability assessment is based on Bitcoin’s historical patterns and market behavior.

Bear markets and their complexities

• Bear markets spend more time trending up than trending down.

  — Ben Cowen

• Understanding market cycles and investor psychology is crucial during bear markets.
• Bear markets often make fools of both bulls and bears due to their unpredictable nature.

• Bear markets make fools of both bulls and bears because in bear markets you often will… trend up and then quickly break down.

  — Ben Cowen

• Navigating bear markets requires knowledge of market behavior during different cycles.
• Bear markets’ tendency to trend upward complicates trading strategies.
• Investors should be aware of potential recovery patterns in bear markets.

• Bear markets, they spend a lot more time actually trending up than trending down.

  — Ben Cowen

Historical indicators for Bitcoin’s market bottom

• If Bitcoin were to drop to the 30 to 50k range, it would signal a convincing bottom based on historical indicators.

  — Ben Cowen

• Historical price movements provide insight into potential market lows for Bitcoin.
• A significant market low may be indicated by Bitcoin dropping to the 30-50k range.
• Understanding Bitcoin’s historical price movements is crucial for identifying market bottoms.

• I think if we were to go below 60k like let’s say we were to go to like the 30 to 50k range or something that would be… a fairly convincing bottom.

  — Ben Cowen

• Historical analysis suggests specific price ranges for Bitcoin’s market lows.
• Market indicators grounded in historical data are essential for assessing Bitcoin’s bottom.
• Investors should consider historical indicators when evaluating Bitcoin’s market trajectory.

Bitcoin’s realized price and market bottom

• Bitcoin typically bottoms below the realized price at the end of bear markets, and we are approaching that level now.

  — Ben Cowen

• The realized price is a critical level for assessing Bitcoin’s market bottom.
• Historical patterns connect to current market conditions, offering insight into price movements.
• Understanding the concept of realized price is essential for evaluating Bitcoin’s market bottom.
• Bitcoin’s price history provides context for potential future price movements.

• Bitcoin is always bottomed below those levels at the end of bear markets… we’re getting pretty close to the realized price.

  — Ben Cowen

• The realized price offers a historical benchmark for Bitcoin’s market bottom.
• Investors should monitor the realized price as an indicator of Bitcoin’s market trajectory.

Potential 70% drop in Bitcoin’s price

• Bitcoin could experience a drop of around 70%, similar to previous bear markets.

  — Ben Cowen

• Historical data suggests a potential 70% drop in Bitcoin’s price during bear markets.
• Understanding previous bear markets provides context for potential future price movements.

• I’ve often said about 70% makes a lot of sense… in fact the drop after the 2019 top… was a 70% drop.

  — Ben Cowen

• A 70% drop aligns with historical patterns in Bitcoin’s price movements.
• Investors should consider historical data when evaluating potential price declines.
• The prediction of a 70% drop is grounded in historical analysis.
• Monitoring historical trends is crucial for understanding Bitcoin’s potential price movements.

Bitcoin’s price trajectory and $60k level

• Bitcoin is likely to break below $60k later this year, but this drop may be short-lived.

  — Ben Cowen

• The $60k level is significant in Bitcoin’s historical price movements.
• Historical patterns suggest Bitcoin may break below $60k, but the drop could be brief.

• My guess is that we will likely break below 60 k later this year but it could be it could be relatively short lived.

  — Ben Cowen

• Understanding the significance of the $60k level is crucial for evaluating Bitcoin’s price trajectory.
• Investors should consider historical patterns when assessing potential price movements.
• The prediction of a brief drop below $60k is based on historical analysis.
• Monitoring the $60k level is essential for understanding Bitcoin’s market dynamics.

Unlikelihood of a new all-time high for Bitcoin

• It is very unlikely that Bitcoin will reach a new all-time high this year.

  — Ben Cowen

• Historical market cycles suggest a new all-time high for Bitcoin is unlikely this year.
• Understanding Bitcoin’s price history is crucial for evaluating its potential trajectory.

• I think it’s very unlikely that bitcoin puts in a new all time high this year.

  — Ben Cowen

• Investors should consider historical market cycles when assessing Bitcoin’s price potential.
• The prediction of no new all-time high is based on market analysis and historical trends.
• Monitoring historical patterns is essential for understanding Bitcoin’s future price movements.
• Evaluating Bitcoin’s price trajectory requires knowledge of market cycles and historical data.

Decline in social interest and retail participation

• Social interest in crypto has been declining since 2021, indicating a shift in retail participation.

  — Ben Cowen

• The decline in social interest highlights a critical trend in the crypto market.
• Understanding social interest metrics is crucial for evaluating market trends.

• If you look at the social metrics you can see that basically social interest has been trending down since 2021.

  — Ben Cowen

• The decline in retail participation impacts market dynamics and future price movements.
• Monitoring social interest metrics is essential for understanding market trends.
• The shift in retail participation indicates changing investor behavior in the crypto space.
• Evaluating market trends requires understanding the significance of social interest metrics.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.