After reaching a new all-time high in early October, the Bitcoin price has entered a prolonged downtrend, losing more than $40,000 and falling below $90,000. During this period, market sentiment and participation have understandably dipped, with many investors stepping back from the cryptocurrency. However, as the year comes to a close, a crypto analyst has shared insights on what to expect for Bitcoin in the future and why investors may not be prepared for the upcoming changes.
Why Bitcoin Price Could Be Preparing for a Significant Move
The pseudonymous analyst, Crypto Waterman, recently took to X to discuss why they believe Bitcoin is on the brink of a breakout. While many think the peak has been reached, Waterman presents a contrary view, referencing trends from previous cycle tops to illustrate why Bitcoin has not yet hit its peak.
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The analyst points out that pullbacks like this are typical in each cycle, and previous cycles have shown similar patterns. In addition to the pullback, there’s the trend with gold and silver, both of which achieved all-time highs in December 2025, while Bitcoin has faced ongoing challenges.
Waterman noted that in earlier cycles, gold and silver reached new highs ahead of the Bitcoin price following suit. Therefore, with both precious metals already reaching new records, the crypto analyst argues that shifting from Bitcoin to invest in gold and silver isn’t a wise decision.
Moreover, one significant indicator of a potential Bitcoin cycle top has been the performance of the Coinbase app within the App Store. In past cycles, Coinbase climbed to the number one spot before Bitcoin peaked. However, it only reached number 280 in October, coinciding with BTC’s $126,000 all-time high, indicating that the top may still lie ahead.
Why This Is Not The Peak
Additional factors are cited as reasons why this is not the peak for Bitcoin’s price, including the current performance of the altcoin market. Altcoins have struggled significantly during this time, with many falling between 60% and 80% from their all-time highs, and there are no signs of an altcoin season on the horizon.
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The Crypto Fear & Greed Index also hasn’t surpassed the 90 mark this cycle, which implies that euphoria hasn’t reached its peak. Additionally, the MVRV Z-Score has remained below 3, whereas typically, the Z-Score exceeds 6 before hitting a top.
In light of this, the crypto analyst forecasts that several developments are imminent. Investors who withdrew from the market in early 2025 are expected to re-enter. Following them, those who exited in 2024 will likely return, and subsequently, the 2021-2022 investor cohort will join them. Ultimately, new retail investors will enter the market, signaling the time to exit.
Featured image from Dall.E, chart from TradingView.com
