On June 16, PANews reported that Bitwise's Chief Investment Officer, Matt Hougan, stated that the debate over whether Bitcoin has "hit bottom" is the "wrong question" for long-term investors. The real focus should be on whether the peak of this cycle has yet to occur. Galaxy Digital, NYDIG, and Standard Chartered have contrasting views: Galaxy assesses that the bottom range for Bitcoin is between $30,000 and $54,000 based on 13 indicators; NYDIG believes the current pullback exhibits characteristics of a cycle bottom but lacks extreme 'capitulation' selling, and institutional demand could alter the cycle structure; Standard Chartered, on the other hand, asserts that $59,000 is the bottom for this cycle and maintains a target of $100,000 for Bitcoin within the year. All three parties anticipate that the bottom will emerge this year before the next peak, followed by a new bull market.