Benjamin Cohen: Bitcoin will reach a local bottom this year

Crypto market analyst Benjamin Cohen said that bitcoin BTC $78,115.83 Mezo Wrapped BTC -1.37% Market capitalization $76.94 million VOL. 24 hours $1.19 billion remains in a bearish market structure. In his new review, he recalled that in previous downward cycles — 2014, 2018, 2022, and now in 2026 — BTC consistently updated local lows in February.

According to him, the March growth does not mean a trend reversal. Cohen is ready to reconsider his position only if bitcoin convincingly closes above the key $ 83,000 mark, which he calls the «demarcation line» of the bear market.

«As long as the price is below $ 83,000, nothing has changed — it’s still a structure of lower highs,» he said. The analyst believes that the most likely scenario is the formation of another lower peak followed by a drop to a new low.

Cohen urged traders to be cautious, recalling the «fake» growth signals in 2022, which ended in a sharp collapse.

Thus, despite the short-term recovery, bitcoin, according to the expert, remains in a bearish phase, and the market may go down again after a temporary rise.