After setting a new all-time record in early October, the The Bitcoin price entered a long-term downward trend period, losing more than $40,000 of its value and falling below $90,000. During this time, sentiment and market participation were understandably negative, with investors withdrawing from the cryptocurrency. However, as the year draws to a close, a crypto analyst has explained what’s expected next from Bitcoin and why investors aren’t ready for what’s to come.
Why Bitcoin Price Could Be Preparing for a Big Move
Pseudonymous analyst Crypto Waterman went to X Overview the reasons why they believe Bitcoin could be on the verge of a breakout. While many believe the top is in, Waterman claims the opposite, using the trends from previous cycle tops to show why the Bitcoin price has not yet been surpassed.
Related reading
First, the analyst claims that such pullbacks are part of every cycle, and that the previous cycles were no different. But beyond the pullback, there’s also the gold and silver trend, with both reaching all-time highs in December 2025, while Bitcoin has struggled.
Waterman explained that both gold and silver hit new all-time highs in previous cycles before the Bitcoin price followed later. With both assets already reaching new peaks, the crypto analyst believes that leaving Bitcoin to buy gold and silver is not a smart choice.
Additionally, one of the key features of a Bitcoin cycle top was the performance of the Coinbase app on the App Store. In previous cycles, Coinbase had risen to #1 before Bitcoin reached its peak. Meanwhile, it only reached number 280 in October, when BTC hit its all-time high of $126,000. So it suggests that this is not the top.
Why this isn’t the top
Other factors are also mentioned as to why this is so not the top for the Bitcoin priceone of which is the performance of the altcoin market. Altcoins have struggled during this period, with major alts down between 60% and 80% from their all-time highs and no sign of an altcoin season in sight.
Related reading
The Crypto Fear & Greed Index also failed to cross the 90 mark this cycle, indicating that the euphoria did not reach its peak, as well as the MVRV Z-Score remaining below 3, while the trend is for the Z-Score to exceed 6 before reaching the top.
Given all this, the crypto analyst suggests a number of things will happen. Investors who left the market in early 2025 are expected to re-enter. Then those who left in 2024 will follow, and then the 2021-2022 investor cohort will return. Finally, new private investors enter the marketwhich will be the signal to exit the market.
Featured image of Dall.E, chart from TradingView.com