Market research firm Galaxy Research suggests that Bitcoin (BTC) may not yet have completed the Dip process of its current cycle, despite the world's largest cryptocurrency having undergone several sharp corrections recently. According to their latest report, most of the signals that appeared at Bitcoin's historical Dip have not yet been fully triggered, indicating that the market may still face significant volatility before entering its next phase of sustained growth.
Galaxy Research stated that they have been tracking 13 key indicators that typically appear during Bitcoin Dip phases, including on-chain data, market sentiment, long-term investor activity, Capital flows, and valuation signals. However, to date, only 4 of the 13 indicators have signaled in line with previous bearish cycles.
Based on blockchain data analysis models and macroeconomic financial market trends, Galaxy Research has developed a baseline scenario with a potential Dip for Bitcoin ranging from $40,000 to $46,000 by the end of 2026. This price range is XEM likely to see strong buying pressure from long-term investors, reflecting a correction consistent with previous cycles of this asset.
Meanwhile, if the market experiences an extreme sell-off or global economic shocks occur, Galaxy Research does not rule out the possibility of Bitcoin falling further to the $30,000–$37,000 range. This is XEM a capitalization scenario, where pessimism spreads and many short-term investors are forced to cut their losses.
Galaxy's assessment comes amid ongoing debate in the cryptocurrency market about whether Bitcoin has completed its correction cycle. Experts continue to believe that pressure from wars, monetary policy, real interest rates, and macroeconomic factors could continue to influence price movements in the medium term.
Meanwhile, blockchain data analytics firm CryptoQuant says Bitcoin's current realized price is around $53,600, which could be a candidate for a potential market Dip at this time.
