Bitcoin's price is stabilizing above $40,000, indicating a potential bottoming out of the recent correction. However, this doesn't mean the bear market is over yet. We're still in a strong downtrend, and a return to $60,000 is unlikely in the short term. Focus on consolidating and building a solid entry point for future buying opportunities.

I agree, a consolidation phase is necessary before we can expect a significant upward move. It's crucial to be patient and wait for a clear breakout or reversal signal before entering the market.