In the latest episode of the cryptocurrency analysis podcast, Tapping Into Crypto, Bitcoin’s current price trends were scrutinized in relation to previous bear markets. The discussion centered on both on-chain indicators and broader macroeconomic developments to evaluate whether the crypto market is heading towards further depreciation in the near term.
Expansion of Market Volatility
At the outset, the podcast highlighted that the weakness observed in Bitcoin extended beyond just the crypto market. The hosts pointed out the recent sharp declines in gold and silver prices and the sudden fluctuations in leveraged investment products. These movements were cited as indicators that risk appetite is not confined solely to digital assets.
The hosts also noted that these market changes could trigger “forced liquidation” processes across various asset classes.
Volatility across different market segments is interpreted as a signal of investors reassessing their positions across multiple channels.
Comparison with Past Bear Markets
Bitcoin’s current price movement is considered a milder retreat when compared to previous bear markets. Historical cycles show that crypto markets have experienced prominent downturn phases lasting 12 to 13 months, with declines exceeding 70%. In contrast, Bitcoin has fallen by a comparatively lower degree within a shorter timeframe from its recent peak.
The podcast included the assessment:
On-chain data suggests the possibility of deeper pullbacks against the US dollar.
Critical $40,000 Level According to On-Chain Data
The analysis brought on-chain data from long-term Bitcoin holders into focus. The hosts argued that approaching certain cost levels could intensify selling pressure as investors might seek to recuperate losses. If this pressure escalates around the $70,000 range, Bitcoin may potentially decline to the $40,000 mark.
Historically, increasing price pressure could quickly dampen investor sentiment, highlighting the need to closely monitor on-chain indicators.
Gold-Bitcoin Relationship and Uncertainties of 2026
The hosts pointed to a recurring pattern between Bitcoin and gold. Historically, gold has outperformed Bitcoin for approximately 14 months before a shift in relative strength begins. February or March 2026 could mark a balance in this cycle, according to the analysis.
Experts suggest that while a price bottom might not be expected during this period, signals indicate that the market’s power dynamics could tilt back in Bitcoin’s favor.
