Bitcoin's current price action can be interpreted in starkly different ways depending on the time horizon. On one hand, the asset trades nearly 50% below its all-time high. On the other, it has gained millions of percent over the past decade. From a technical standpoint, the $65,000–$66,000 range may represent a significant opportunity, according to popular crypto analyst Crypto Rover.

A Familiar Pattern on the Logarithmic Curve

Crypto Rover shared a chart with his 1.6 million followers on X that applies a long-term logarithmic regression curve to Bitcoin's price history. The model suggests the cryptocurrency has followed a predictable upward trajectory for more than a decade with minimal deviation from the curve. Logarithmic regression is one of several long-term valuation frameworks crypto analysts use to contextualize Bitcoin's price relative to its historical trend, though such models vary in their assumptions and are not universally accepted as predictive tools.

The chart highlights green markers at historical touchpoints along the curve's lower boundary — moments that preceded major rallies. Previous instances where Bitcoin touched this lower level include approximately $2 over a decade ago, $10, $200, $3,500, and most recently $16,000 during the 2022 bear cycle. In each case, the touchpoint was followed by a substantial rally that ultimately led to a new all-time high.

According to Rover's analysis, Bitcoin's current $65,000–$66,000 range places the asset in the same familiar territory along the curve, indicating a comparable entry point rather than an overextended market top.

WOW: According to this Bitcoin chart, buying Bitcoin at $66K is no different from buying it at $16K, $3.5K, $200, $10, or even $2. pic.twitter.com/cFpLOQ5K8n — Crypto Rover (@cryptorover) July 24, 2026

He concluded that purchasing BTC at current levels is "no different from buying it at $16,000, $3,500, $200, $10, or even $2," suggesting similar long-term upside potential relative to its historical growth path.

Analysts Debate Whether the Bottom Is In

Whether Bitcoin has already reached its bottom has been a prominent topic among analysts in recent months.

Analyst Jelle weighed in on the discussion, indicating that Bitcoin is still in the process of forming a bottom. He noted that the price is "turning the previous local consolidation into support" and predicted another upward leg to fill a gap near $70,000. However, he cautioned that resistance at that level could prove too strong given the currently limited bullish sentiment. The $70,000 level represents a key area to watch, as it marks a psychological threshold and a zone where selling pressure has previously emerged.

Michaël van de Poppe observed that Bitcoin has entered "oversold territory on the Puell Multiple." The Puell Multiple is a widely tracked on-chain indicator that compares daily Bitcoin miner revenue to its 365-day average; low readings have historically coincided with macro price bottoms. He pointed out that historically, similar readings have led to bottom formation "shortly after," citing the bear cycles of 2015, 2018, 2020, and 2022 as precedents. Van de Poppe predicted that this cycle "won't be different," as BTC prepares for a more pronounced upward move.

For now, however, Bitcoin's attempted rallies have been halted at their early stages.