Analysis: BTC’s daily close below 83K is not yet sufficient to confirm a bear market; the burden of proof remains with bears.

On October 10 that according to crypto analyst Benjamin Cowen (@benjamincowen), a daily close for Bitcoin below $83,000 is not yet sufficient to prove that bears are in control. "Acceptance" of a breakdown below the range requires multiple weekly closes for confirmation. He emphasized that the burden of proof currently remains with the bears, not the bulls. Cowen previously pointed out that if Bitcoin truly drops back below the range, the historical pattern could repeat in Q4 2026, as the market will always use the "this time is different" narrative to confuse investors.