Bitcoin's Rally Breaks Analyst's Bear Thesis: What Happens Next?

Bitcoin (CRYPTO: BTC) reclaimed $84,000, invalidating analyst Benjamin Cowen's bear market thesis. Cowen noted that Bitcoin's rise above its May high of $82,800 and crossing its 50-week moving average historically signals the end of a bear market. He acknowledged that while Q4 weakness is still possible, a higher low is now more likely than a new cycle low. Cowen also highlighted that macroeconomic factors like rising energy prices and a stronger dollar have not derailed Bitcoin's performance.