Bitcoin sellers resumed activity as the price dropped from its intraday high of $68,300. Analysts predict a bottom in Q4/2026 due to deep capitulation and downside risks. Long-term holders are distributing BTC, mirroring past corrections before bottoms. Onchain metrics and technicals support the forecasted price drop.

Bitcoin’s drawdown from its all-time high has left holders underwater. Long-term holders have been reducing exposure, similar to past corrective phases. CryptoQuant data shows intense sell-side pressure, indicating potential historical accumulation. Glassnode suggests a broad-based capitulation phase is near, with realized losses surpassing profit-taking.

Analysts foresee Bitcoin extending its downtrend, possibly hitting $40,000 to $50,000 by the end of 2026. Various predictions suggest a bottom forming between mid-September and late November. Historical data from previous bear cycles indicate lows 12 months after the bull market top. Net Realized Loss levels suggest a possible bottom in July 2026.

Read more at Cointelegraph: Here’s Why Bitcoin Analysts Say BTC Market Will Bottom in Q4 2026.