Analyst Matthew Hyland Says Bitcoin May Have Bottomed Around $60,000

Analyst Matthew Hyland said Bitcoin may have bottomed at around $60,000 in the first quarter of 2026 and argued it is unlikely to go lower later this year.

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Hyland pointed to “dozens of bottom signals” that appeared simultaneously at the $60,000 level and said these signals do not typically emerge in the middle of a bull market.

Cointelegraph

CriptoNoticias, citing Glassnode, said four of ten key indicators already signal the end of the bear market and described a price-floor formation visible through a floor-detection model based on realized price.

Glassnode also highlighted an increase in Bitcoin miners’ profits through transaction fees paid, which it said reflects growing demand for space on the network and greater user interest in transacting Bitcoin.

In the same Glassnode bulletin, the cycle-change detector was described as signaling a shift to a new bull market, with the outlook compared to the market cycles of 2015 and 2019.

Other analysts disputed whether $60,000 was the final low, with veteran trader Peter Brandt saying in March that it may not be the lowest level for 2026 and forecasting Bitcoin could “retest or even move “slightly lower” than the price level in September or October of this year.”

Willy Woo, in an X post on March 17, said from a liquidity perspective Bitcoin is about one-third of the way “through the bear market.”

CriptoNoticias

CriptoNoticias reported that while some indicators have begun to emerge, Glassnode said there are other indicators that have not yet activated enough to consider that the bear market has ended.

Cointelegraph also said Bitcoin reached $82,499 on Wednesday, its highest price since Jan. 31, and that at the time of publication Bitcoin was trading at $79,646.

Cointelegraph added that Michael van de Poppe argued a forming pattern on Bitcoin’s short-to-long-term realized value ratio chart shows Bitcoin is nearing the end of the bear phase, saying “The levels are hit again, which shows that we're at the end of the bear market, and not at the start.”

Cointelegraph said Bitcoin analyst Kyle Chasse pointed to a price increase in an X post on Thursday and expected further upside in the near term, adding “$82,000 this week. Up 5% in five days.”

“According to Glassnode, four of ten key indicators already signal the end of the bear market”

CriptoNoticias

Chasse also said “The technicals are clean. Bull-stacked moving averages. Shorts getting squeezed,” and described the “next wall” as $85,000.

He further stated, “Above that, the path to $100k opens back up,” tying the next level to a potential move toward $100k.

CriptoNoticias reported that Glassnode noted some indicators are still in progress while others have not even begun, meaning the firm did not treat the bear-market end as fully confirmed.

Across the competing forecasts, the debate centers on whether the cycle has already transitioned—Hyland’s view that $60,000 marked a bottom in the first quarter of 2026 versus Glassnode’s framework that multiple indicators must align before declaring the bear market over.