Several analysts forecast Bitcoin extending its bear market into late 2026, with potential cycle lows of $30,000 to $45,000 backed by rising exchange reserves. Bitcoin (BTC) sellers returned on Friday, pulling BTC price 5.5% below Wednesday’s high of $70,000 to trade at $65,950 at the time of writing. Several analysts said Bitcoin is “going much lower,” potentially reaching a bottom during the last quarter of 2026. Key takeaways: Analysts forecast BTC price to hit a bottom in Q4 based on various technical and onchain metrics. Read more
Crypto traders blame Jane Street for a daily 10 a.m. Bitcoin dip after a Terraform lawsuit claimed dubious trading practices, but analysts say timing matches broader risk repricing. Cryptocurrency investors accused quantitative trading company Jane Street of pressuring Bitcoin’s price with a daily, programmatic sell-off at the US market open, but market analysts and data suggest the pattern is not consistent, and no single company can force Bitcoin into a prolonged bear market. The claims surged online a day after Terraform Labs’ court-appointed administrator sued Jane Street, alleging insider trading tied to transactions that worsened the collapse of Terra’s algorithmic stablecoin ecosystem in May 2022. Several market watchers, including crypto influencer Justin Bechler, have argued that Jane Street’s holding of BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF), known as IBIT, could mask a net short Bitcoin position through hedges that do not appear in public filings. Bechler argued that Jane Stre...
Analysts say Ether’s MVRV Z-Score has entered capitulation territory at -0.42 after falling 30% in a fortnight, though it is still far from its worst score. Ethereum has hit a zone typically associated with mass selling, with an MVRV Z-Score returning a score of -0.42 — though analysts are split on whether the price of Ether is close to bottoming out. The MVRV Z-Score is a metric used to assess whether a crypto asset is overvalued or undervalued by comparing its market value to its realized value, which reflects the total value of Ether based on the price at which it was last transacted. The metric was created to identify periods of market euphoria or capitulation when market value was considerably higher or lower than realized value. Read more
The rise and fall of the manufacturing index from mid-2020 through 2023 closely mirrored Bitcoin and the broader crypto market’s price movements over the same timeframe. A metric tracking the health of the US economy has just posted its highest monthly score since August 2022, and crypto analysts say it could signal a turnaround for Bitcoin, which is trading at $78,000. The Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing activity in the US, recorded a score of 52.6 in January, beating the market consensus of about 48.5 and ending 26 consecutive months of economic contraction, ISM stated in a report on Monday. The index score is a closely watched metric by investors and the Federal Reserve in assessing economic strength, inflation risks, and whether to tighten or ease monetary policy. Read more
Bitcoin has gained on average in November, but that figure is “skewed” and market participants shouldn’t always rely on it, a crypto executive says. Analysts have questioned whether November deserves its reputation as Bitcoin’s historically “strongest month” after the cryptocurrency dropped 10% over the past seven days and briefly sank below $90,000. “Historical averages suggest strength, but those numbers are skewed and the current backdrop is anything but normal,” James Harris, the CEO of crypto yield provider Tesseract, told Cointelegraph. Harris said that while the break below the long-term average is noteworthy, it is “not the full picture.” Read more