# Has Bitcoin Already Bottomed? Grayscale Focuses on Macro Signals Debates continue over whether Bitcoin has reached its bottom, with Grayscale emphasizing macroeconomic indicators. - **Source:** [CryptoPotato](https://brifing.si/source/bd22636b-ec8d-42a8-8cca-1937c50e0f6c) - **Published:** 2026-07-23 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/1fc295cf-16f9-4c26-a9a2-3d38eaeb8703 ## Bitcoin Bottom Debates There are two main views on whether Bitcoin has reached its bottom. One group believes in the traditional four-year cycle, while others argue the bottom may already be in. Grayscale supports the latter view. ## Four-Year Cycle Theory The four-year cycle theory suggests Bitcoin's price movements are driven by halving events. According to this model, Bitcoin's bottom could occur in September or October. However, Grayscale questions the validity of this theory. ## Macroeconomic Influences Grayscale argues that Bitcoin is now driven by macroeconomic indicators. Key factors include US Federal Reserve policies and real interest rates, which significantly impact Bitcoin's price. ## Role of Economic Conditions Grayscale believes Bitcoin's bottom could be determined when macroeconomic conditions begin to improve. The Federal Reserve halting rate hikes and sustained economic growth could prevent further declines in Bitcoin's price. ## Analysts' Perspectives Many analysts believe Bitcoin has already bottomed out. Technical indicators and market structure show signals similar to previous downturns, suggesting Bitcoin may be preparing for a new upward trend. ## Risk and Reward for Investors Analysts do not expect Bitcoin to drop below $50,000. Current price levels offer a balanced risk-reward profile for investors, indicating Bitcoin could be a long-term investment opportunity. ## Sources covering this story - https://cryptopotato.com/has-bitcoin-already-bottomed-grayscale-says-macro-signals-matter-more/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._