Has Bitcoin Really Bottomed at $98K?

[umair]

Hey everyone, I came across an interesting take from a crypto analyst claiming that Bitcoin has already bottomed out around $98,000. The idea is that this level represents a key point of support, signaling that we might be entering a new bullish phase. I wanted to get your thoughts—does this seem realistic, or is it just another optimistic projection?

From what I’ve seen, the argument is built on both technical and psychological factors. The analyst suggests that momentum indicators and macro trends are aligning around this level. If that’s true, it could mean the worst of the recent correction is behind us. Historically, Bitcoin tends to rebound strongly after solid bottoms are confirmed, so this could be the early stage of another rally cycle.

Still, I can’t help but be cautious. Crypto markets have a habit of surprising everyone, and sometimes what looks like a “confirmed bottom” ends up being just another short-term bounce. I’m watching volume closely—if we see consistent accumulation near $98K, that would be a stronger signal than just chart analysis.

Another factor is sentiment. A lot of traders still seem hesitant, and some are waiting for clearer confirmation before jumping back in. That makes sense, considering the broader uncertainty in global markets. Inflation data, regulation talk, and overall investor risk appetite could all influence whether Bitcoin holds or breaks below that level.

Personally, I’m keeping an open mind. It’s possible this is the real bottom, but I’m not going all-in until I see more convincing follow-through. What do you all think? Is this just hype, or are we actually witnessing the setup for the next major Bitcoin bull run?

Looking forward to hearing everyone’s take on this.