Bitcoin continues to trade near the $69,000 level following a steep sell-off, but some analysts are now spotting a potential turning point. In a note to investors, Compass Point’s Ed Engel suggested that the crypto market is showing signs of being in the “early phases of bottoming out.”
For traders, this is the critical phase to watch. Market bottoms are rarely a single point, but a process characterized by intense selling that gradually gives way to stability. If Engel’s assessment is correct, the period of panic may be transitioning to a period of accumulation.
This moment presents a strategic lesson for young investors. Successful investing often involves looking beyond the scary headlines. When credible analysts begin discussing a potential bottom after a record capitulation, it can signal that the worst of the fear is priced in. For those with a long-term view, this is when disciplined research and measured positioning can set the foundation for the next cycle.