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Jan3 founder Samson Mow said bitcoin may have already lived through its downturn this year, despite setting an all-time high in October.
He wrote on X:
“2025 was the bear market.”
He added:
“Decade long bull run.”
Mow frames 2025 as the downturn
Mow’s comments come after bitcoin hit an all-time high of $125,100 in October.
Other analysts have argued that October’s peak marked the cycle top and that 2026 could begin a new bear market.
PlanC echoes the “bear market” label
Bitcoin analyst PlanC posted a similar message.
PlanC said:
“If you made it through 2025, you made it through the bear market.”
PlanC also pointed to bitcoin’s yearly performance.
PlanC said:
“Bitcoin has never had two red yearly candles in a row.”
Price and sentiment into year-end
Bitcoin was down 8.98% since Jan. 1 and traded around $87,210 at the time of publication.
Market sentiment was also weak.
The Bitcoin Fear and Greed Index fell to 20 out of 100 on Dec. 26, extending a stretch of “extreme fear” that began Dec. 13.
2026 forecasts remain divided
Veteran trader Peter Brandt has suggested bitcoin could fall to $60,000 by Q3 2026.
Fidelity’s Jurrien Timmer said 2026 could be a “year off,” with a potential low near $65,000.
Bitwise CIO Matt Hougan has argued 2026 will be an “up year” for bitcoin.