Bitcoin May Hit Turning Point This Week as Durable Bottom Takes Shape

Grayscale Sees Potential Bitcoin Turning Point

Bitcoin’s rapid recovery may signal that its latest bear market has reached a turning point, crypto asset manager Grayscale shared in an Aug. 22 post on X. The post included a chart comparing bitcoin’s current decline with four previous market cycles.

The assessment followed a roughly $10,000 weekly bitcoin rally that lifted the cryptocurrency to $79,500 on Aug. 21, its highest price since May. The rebound broke a prolonged trading range and forced traders holding bearish derivatives positions to close their bets.

Although short liquidations helped accelerate the advance, the move also coincided with renewed spot demand and ETF inflows. Grayscale stated:

“This week may be a turning point for bitcoin.”

The asset manager expanded on the market outlook after publishing an assessment of whether current prices offer a good time to buy bitcoin. That analysis identified continued structural adoption, the maturity of the bear market, and a potentially supportive macroeconomic environment as three considerations for long-term investors.

Grayscale Chart Shows a Shallower Bitcoin Decline

The accompanying “Bitcoin Price by Cycle” chart indexes bitcoin at 100 at each cycle peak and tracks its subsequent performance by the number of days since that peak. The current cycle begins with the October 2025 high and extends through Aug. 20.