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As US-Iran tensions continue to escalate, Bitcoin is trading around $66,000 after experiencing its initial sell-off.
While uncertainty continues for Bitcoin at this point, one analyst has suggested that the bottom for BTC may be near.
Speaking to Coindesk, Rony Szuster, Head of Research at Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, said that according to the Bitcoin-gold ratio, Bitcoin may have bottomed out.
Rony Szuster, comparing Bitcoin prices in dollar and gold terms, noted that the most recent peak in dollar terms was around $126,000 in October 2025.
Considering the dollar-based all-time high (ATH) and historical data, and assuming the current cycle follows historical patterns, the analyst stated that the decline in Bitcoin could extend until the end of 2026.
In contrast, the analyst notes that the timeline for Bitcoin’s bottom is changing based on gold pricing.
According to the data, Bitcoin reached its gold-based peak in January 2025. If Bitcoin follows this historical pattern, the potential bottom, according to the same 12-13 month bearish pattern, could have occurred in February 2026. And a recovery could likely begin in March.
Finally, the analyst reminded that there are other macroeconomic variables in the market, commenting, “Historically, buying during times of fear has been more effective than buying during times of euphoria. Does this mean we’ve reached the bottom? No. But statistically, it means we’re in the region where the best average prices usually form.”
*This is not investment advice.
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