Bitcoin bear market may need months of boring consolidation

Bitcoin's bear market may require several more months of sideways trading before reaching a true bottom, according to analysis of long-term holder trends. While price drops are painful, 'time pain' – characterized by slow, range-bound conditions – can exhaust investors. Long-term holders currently control about 80% of the supply, approaching historical bear market bottom levels of 85%. This suggests a potential floor is forming, but past cycles indicate a prolonged period of consolidation is likely before a sustained recovery begins, testing the patience of both bulls and bears.