VanEck chief executive Jan van Eck said Bitcoin may be forming a cyclical bottom even as 2026 fits the typical bear phase of its four-year halving cycle.
Bitcoin rallied 6% to around $69,000 before a modest pullback, rebounding from strong support in the $60,000–$62,000 range and posting its strongest daily move in nearly a week.
Van Eck described 2026 as the fourth year in Bitcoin’s historical halving cycle, a period that has often followed three consecutive years of gains with sharp drawdowns tied to its 21 million supply cap and programmed reward reductions.
Despite calling it a bear market, he said recent price action could represent “a very nice sign of life,” suggesting the market may be carving out a base.
The rally extended beyond Bitcoin, with participation from large-cap tokens and publicly traded crypto firms such as Coinbase and Circle.
Technical resistance sits near $70,000, with a broader supply zone between $75,000 and $80,000, and analysts note that a sustained break above $70,000 would strengthen the bottoming thesis, while rejection could prolong the correction.
At the time of reporting, Bitcoin price was $68,087.93.