KBW Analyst Sees 75% Chance Crypto Cycle Has Turned
- —KBW puts the probability of a crypto cycle turn at 75%
- —Bitcoin fell 53% from peak to its June 30 low
- —Prior three bear markets averaged roughly 82% declines
- —KBW resumed Coinbase coverage with Outperform and a $237 target
Why it matters: The call suggests the bear phase may be ending, though onchain indicators have yet to show the deep capitulation seen near previous bottoms.
Source: Bitcoin.com