Analyst Benjamin Cowen Admits Bearish Bitcoin Call Was Wrong
- —Cowen expected BTC to stay below its May peak, but it rose to about $86,000
- —He said his mistake was assuming a Fed rate hike would immediately sink Bitcoin
- —BTC is up roughly 50% from summer lows versus about 40% in 2018 and 2022
- —Cowen does not rule out a Q4 correction but expects a higher macro low
Why it matters: A prominent bear's public reversal signals a shifting market structure and weakens the case for a new cycle low.
Source: Bitcoin Sistemi EN