In Bitcoin cycles, the bottom has never shown up in the form of a “buy signal”—it shows up in the form of “nobody wants to touch this thing anymore.”

2018 bear-market bottom: $19,800 → $3,200, a drop of 84%. Back then, someone said “Bitcoin will go to zero.”

2022 bear-market bottom: $69,000 → $15,500, a drop of 78%. Back then, someone said “This time is different.”

2026: $126,000 → ? about a 50% drop. If history’s rhythm repeats, there’s still some downside room.

Current market sentiment: Institutional pessimism is at a two-year high, and retail investors are waiting for even lower prices.

If historical patterns hold, the bottom could appear when most people have lost confidence in the market