Benjamin Cowen, founder of ITC Crypto, has questioned prevailing bearish sentiment for Bitcoin in Q4, noting that current technical trends favor bulls with BTC trading less than 1% below its May high. Cowen argues that the market's proximity to this key level makes definitive bearish conclusions premature ahead of the fourth quarter. While historical patterns from 2019 and 2023 suggest Bitcoin typically rallies 20% to 30% within weeks of breaking above the 50-week moving average, the current cycle has seen more moderate gains, potentially influenced by seasonal factors and rising U.S. Treasury yields. Despite this divergence, Bitcoin continues to demonstrate resilience, prompting a re-evaluation of negative Q4 forecasts.