VanEck CEO says Bitcoin may be forming a bottom despite 2026 bear cycle

Bitcoin price surged to $69,000 Tuesday before a correction, putting it on pace for its strongest daily performance in nearly a week, as VanEck CEO Jan VanEck suggested the world’s largest cryptocurrency may be carving out a cyclical bottom.

Speaking on CNBC, VanEck framed 2026 as the fourth year in Bitcoin’s historical halving cycle, a period that has typically coincided with steep drawdowns following three consecutive years of gains.

“That’s why we’re in a Bitcoin bear market,” he said, pointing to the asset’s programmed supply cap of 21 million coins and its four-year halving mechanism, which reduces miner rewards and has historically shaped boom-and-bust patterns.

Despite acknowledging the broader downturn, VanEck said recent price action could represent “a very nice sign of life,” adding that he believes the market may be in the process of bottoming.

The move higher was not isolated to Bitcoin. VanEck noted that the entire crypto complex, including large-cap tokens and publicly traded firms such as Coinbase and Circle, participated in the rally.

However, he cautioned against reading too much into a single day’s action.

Bitcoin eyes break above $70K as bottoming pattern forms

Technically, Bitcoin has rebounded from February lows near the $60,000–$62,000 range and is now consolidating around $67,000.

The area around $60,000 has acted as firm support following a sharp rejection lower last month, suggesting buyers are stepping in at that level.

Immediate resistance stands near $70,000, with a broader supply zone between $75,000 and $80,000.

Momentum indicators show selling pressure easing, while volatility has stabilized after February’s spike, conditions that often accompany base formation.

A sustained break above $70,000 would strengthen the case that a cyclical bottom is in place, while failure to hold current levels could reinforce the longer-term bear narrative.