Bitcoin’s brief recovery to $70,000 has faded, with the price now hovering around $66,000 after failing to hold higher ground. The volatility reflects a market searching for direction following its steep decline from October’s all-time highs.
According to market observers, Bitcoin’s historical four-year halving cycle remains intact, offering some reassurance to long-term holders. However, short-term forecasts vary significantly. Steven McClurg, CEO of Canary Capital, told CNBC he expects Bitcoin could fall as low as $50,000 during the summer months .
For traders, this presents a clear dilemma. The cycle signals say “hold.” The summer forecast says “prepare for more pain.” Seasoned investors know both can be true. Building positions gradually through weakness, rather than trying to catch a single bottom, remains the proven strategy. The halving story isn’t over, but patience, not panic, will capture its next chapter.