Jan3 CEO Samson Mow says Bitcoin has already formed its local bottom and ended its recent bearish trend. According to Mow, strong buying demand around the $58,000 level absorbed heavy selling pressure and prevented a deeper market decline. Mow shared the outlook while discussing Bitcoin’s current market structure. He argued that investors expecting another prolonged correction are relying on outdated cycle models. Moreover, he said Bitcoin’s behavior has changed significantly during the current cycle.