Will Bitcoin Potentially Slide Toward $40,000 Zone? Analyst Warns Bottom Not In Yet

Analyst Benjamin Cowen warns that Bitcoin (BTC) could decline further toward the $60,000–$40,000 range as the market is in a mid-cycle drawdown, with no bottoming signals evident. He estimates a potential ~70% peak-to-trough decline consistent with past bear markets, citing declining social interest and limited retail participation. Cowen also highlights macroeconomic pressures, such as inflation and tight Federal Reserve policies, as factors contributing to ongoing volatility and selling pressure, despite some institutional demand.