Bitcoin (BTC) saw a 3% gain, but doubts linger about the end of the price crash. Comparisons suggest new lows could be on the horizon if the 2022 bear market repeats. The US spot Bitcoin ETFs have an average buy-in cost of $82,000. Analysts warn of potential further downside ahead.

BTC/USD crossed $71,000, marking a 20% increase from recent lows. Market participants remain skeptical about the sustainability of the rebound. Analysts compare current price action to the 2022 bear market, forecasting potential new lows. BTC price volatility intensifies as the weekly close approaches.

Analysts predict that Bitcoin has not yet reached its final capitulation, pointing to potential further downside. The US spot Bitcoin ETFs have an average buy-in cost of $82,000, raising concerns for ETF buyers. The market continues to show similarities to the 2022 bear market, with potential support levels between $58,000 and $68,000.

Analysts highlight the resemblance between the current market and the 2022 bear market, suggesting a potential retest of the 200-week moving average cloud. Uncertainty remains high as market participants navigate the evolving landscape. While historical patterns offer insights, the future trajectory of Bitcoin remains uncertain. Investors are advised to conduct thorough research before making investment decisions.

Read more at Cointelegraph: Bitcoin Bear Market Comparison Sparks New $50,000 BTC Price Prediction