Bitcoin might be entering a bear market phase, according to recent on-chain analysis. The data suggests BTC could slide down to $70K over the next 3 to 6 months, with further downside potentially reaching $56K in the latter half of 2026.

This projection is raising eyebrows in the community. The reasoning behind such a significant pullback hinges on examining current market metrics and historical cycle patterns. While some traders dismiss bear market signals as noise, the analysis framework used here has shown predictive value in past market cycles.

The timeframe matters too—near-term weakness doesn't necessarily mean a complete collapse. Markets often consolidate in phases. Whether Bitcoin holds above these levels or breaks lower will depend on broader macro conditions, regulatory developments, and investor sentiment shifts.