Bitcoin's market bottom could be imminent when measured against gold, according to Rony Szuster, Head of Research at Mercado Bitcoin. Historically, bitcoin bear markets last 12-13 months, indicating a potential bottom in February 2026 if priced in gold, with recovery possibly starting in March. In contrast, the USD-denominated downturn might extend into late 2026, following a peak in October 2025 at $126,000. The divergence in timelines is attributed to global uncertainties, including trade tariffs and geopolitical tensions, which have driven capital into gold, boosting its price by over 80% to $5,280. This shift has weakened bitcoin against gold more rapidly than against the dollar. Despite a $7.8 billion outflow from spot bitcoin ETFs since November, large investors like Abu Dhabi's Mubadala Investment Company are increasing their bitcoin exposure, viewing the current market as an accumulation opportunity.