Bitcoin's bear market could persist for several more months as the cryptocurrency remains range-bound, trading below $66,000. The digital asset has declined over 3% in the past 24 hours and is approximately 45% below its October all-time high. Analysts suggest that the market may need more time to reach a true bottom, as indicated by the Realized Cap HODL Waves metric from Glassnode. This metric shows that long-term holders, those who have held Bitcoin for six months or more, currently control about 80% of the supply. Historically, bear market bottoms occur when these holders control at least 85% of the supply, suggesting that the market may still require several months of consolidation before reaching a bottoming phase.