Kaiko: Bitcoin's $60,000 drop may mark bear-market 'halfway point'

Kaiko Research said Bitcoin’s sharp correction at the start of the month could represent a critical “halfway point” in the current bear market. Bitcoin fell to $59,930 on Friday, its lowest level since October 2024 before the re-election of US President Donald Trump, a move Kaiko said signals a shift out of the post‑halving euphoria and into a historically typical bear period that often lasts about 12 months before accumulation resumes.

Kaiko highlighted a 32% crash as the most significant correction since the 2024 halving and flagged emerging on‑chain bear signals. Aggregate spot crypto trading volume across the 10 leading centralized exchanges dropped about 30% from roughly $1 trillion in October 2025 to $700 billion in November, while combined Bitcoin and Ether futures open interest fell from $29 billion to $25 billion, a 14% reduction Kaiko said reflects ongoing deleveraging.

Assessing the bear market’s depth remains complex.

United States

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