Bitcoin Bottomed At $98,000, Analyst Says: Time For The Final 'Giga Blowoff Rally'
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Bitcoin (CRYPTO: BTC) has likely established its bottom at $98,000, marking a key low reinforced by multiple technical indicators, according to a prominent market analyst.
What Happened: In his latest podcast, trader Mayne said Bitcoin's recent bottom aligns with its 50-week simple moving average, the same level that previously defined major cycle lows at $25,000, $50,000, and $75,000.
The rebound to $106,000 suggests bullish momentum is building again.
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He added that reclaiming the monthly open near $110,000 would significantly boost the odds of new all-time highs, with short-term resistance zones at $105,000–$107,000.
Mayne's base case projects a 50%–60% rally from the $98,000 low, potentially sending Bitcoin to $140,000–$160,000, or even $200,000 in a "giga blowoff rally" by late December or early 2026.
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What's Next: Mayne remains bullish for November as long as Bitcoin holds above $98,000. However, a failure to reclaim $110,000 or weekly closes below $98,000 would confirm a cycle top.
He continues to follow the four-year cycle framework, projecting the next market peak in late 2025 or early 2026, followed by a bearish 2026.
Extreme fear readings and widespread bearish sentiment, he said, act as contrarian indicators supporting a sharp upside move in the near term.
"Either way, I think the end is soon," the vast majority of 2026 is going to be bearish," Mayne concluded.
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