JackYi: BTC has officially ended the bear market, and the $50k price level may never be seen again.

In a post, JackYi (@Jackyi_ld) stated that with BTC’s daily chart forcefully breaking through the 120-day and 200-day moving averages on the upside, and its weekly chart surpassing the 20-week moving average, Bitcoin has officially concluded its bear market phase. He projects that the recent decline from $126,000 to $57,000 (a drawdown of approximately 56%) marks the absolute bottom of this cycle, meaning Bitcoin priced in the $50,000s may soon become history. From a short-term perspective, the market will remain bullish over the next two weeks before experiencing a moderate pullback. This correction is not expected to erase more than 50% of the current rally’s gains. Leveraged long holders are advised to close their positions and observe from the sidelines during this period, referencing the 2023 rally and subsequent consolidation pattern as a guide. JackYi emphasizes that July through August serves as the final window to buy the dip before this cycle ends, confirming that the market has officially entered a new uptrend phase.