Bitcoin dips again as investors fear 2022 repeat

Bitcoin dropped to the level of $70,000 on the second day of the new month, and investors on social media channels now fear that a repeat of the 2022 bear market is possible. If we compare the year 2026 to previous post-halving cycles, we unfortunately still have a long way to go before we reach this year’s bottom.

Summer months

Now that we once again have to fear a drop below $70,000 (crypto has historically struggled during the summer months), panic is creeping in among new crypto investors. Some claim on social media that this post-halving period could become a repeat of 2022, forgetting that 2022 was exceptional, with rising interest rates and inflation due to the start of the war between Ukraine and Russia and the demise of FTX in November of that year.

A repeat of a decline of that magnitude cannot be ruled out but seems unlikely.

Looking at the hourly chart, Bitcoin (despite the rise in March and April) is still in a descending trend channel and could revisit the bottom of that channel during the summer months if major buyers remain on the sidelines.

Important support points can be found at $67,000 and around the key support level of $60,000-61,000, the low of February 2026.