Analyst: Bitcoin may be entering the end of a bear market, expected to rise to $250,000 in the next two to three years

Real Vision's Chief Crypto Analyst Jamie Coutts stated that Bitcoin may be entering the later stages of this bear market. Although the bear market has not ended, the downward momentum has begun to weaken. The current BTC price has fallen about 50% from the historical high of $126,100 set in October 2025. Coutts referred to the current trend as a "typical bear market" and pointed out that Bitcoin's volatility has decreased by about 50% compared to the previous cycle, which suggests that this decline may not be as severe as the previous bear market. However, he cautioned that all current trend indicators are still clearly bearish, and the market will not mechanically replicate historical cycles.

He noted that longer-term momentum indicators are beginning to show bullish divergence, indicating that negative momentum is slowing down, but this does not mean that Bitcoin has technically exited the bear market. In addition to the tightening of global liquidity, the deterioration of on-chain demand has also been a significant reason for Bitcoin's decline. Regarding long-term price predictions, Coutts is cautious about Bitcoin reaching $1 million by 2030. He prefers to predict that BTC will rise to between $200,000 and $250,000 in the next two to three years. He also warned that the Bitcoin community needs to more clearly address the potential threat of quantum computing before 2027, as significant protocol upgrades may take about five years.