‍Bitcoin Faces Critical $65,000 Support Test Amid 2026 Bear Market Risks Bitcoin (BTC) is at a pivotal juncture, with the $65,000 level identified as a crucial support. Analysts note that Bitcoin's price action is shifting from its historical power law trend towards an S-curve of adoption. Should $65,000 fail to hold, further support lies at $45,000. The traditional four-year halving cycle is under scrutiny due to 2025's underperformance. Experts suggest that while cycles may lengthen, bear markets remain part of price discovery. Despite potential downturns, underlying blockchain metrics remain robust, with BTC currently estimated at 25% below its theoretical fair value.