Bitcoin has entered a confirmed bear market after its price fell below a critical level identified in Matrixport's latest report. The report, dated October 31, 2025, highlights that the current retracement mirrors previous cycle downtrends, shifting market focus to future allocation opportunities. Analysts had previously pinpointed the start of Bitcoin's bull market in October 2022 and projected a cycle peak of $125,000 in July 2023. However, signs of weakening bullish momentum were evident between late 2024 and October 2025, culminating in the current bear phase.