Bitcoin Price Analysis: BTC Reclaims $118,000 Despite Recent Volatility
Bitcoin (BTC) has nudged past $118,000 during the ongoing session despite recent volatility that saw the price drop to an intraday low of $114,770 on Friday. However, it recovered over the weekend, steadily climbing as price action remained muted.
The flagship cryptocurrency is marginally up during the ongoing session, trading around $118,115.
OG Bitcoin Holders “Faith Shaken”
A crypto analyst has sparked a debate in the Bitcoin and crypto communities, claiming Bitcoin OGs are losing faith in the asset as it sees increasing institutional adoption. Scott Melker, also known as the Wolf of All Street, stated in a post on X,
“Many of the most ardent early whales have seen their faith shaken and have been selling at these prices. Bitcoin is amazing, but it’s obviously been co-opted to some degree by the very people that it was created as a hedge against.”
Melker pointed out that he is only highlighting what he has been hearing. However, the comments triggered a wave of reactions from the Bitcoin community regarding the asset’s institutional adoption and its implications for its original ethos. Alpine Fox founder and managing partner Mike Alfred disagreed with Melker, stating,
“People make a personal decision to sell some or all of their coins for a myriad of reasons that have nothing to do with the asset or protocol. Everyone dies. At some point, investment returns become irrelevant.”
One early adopter revealed that he sold his Bitcoin because he believes investing in Bitcoin infrastructure would give better returns. Bitcoiner Dave Weisberger stated that widespread Bitcoin adoption is impossible without institutional interest.
“The irony is that there is NO path to a Bitcoin standard without adoption by the public through the legacy institutions controlling the fiat system AND the distribution of OG held Bitcoin to those entities.”
Bitcoin Could See Significant Upside In 2026
Bitcoin (BTC) could see substantial upside in 2026, potentially marking the end of its four-year market cycle, according to Bitwise chief investment officer Matt Hougan. The prediction comes amid sharp disagreements among analysts about whether Bitcoin will change its historical pattern or follow the traditional halving cycle. Hougan stated,
“I bet 2026 is an up year. I broadly think we’re in for a good few years.”
Hougan added that Bitcoin’s four-year halving cycle is “dead” due to several reasons, including the Bitcoin halving becoming “half as important” every four years. President Donald Trump has also been pressuring the Federal Reserve to cut interest rates, a bullish catalyst for the cryptocurrency. He also noted that the chances of a significant pullback have decreased due to increased regulatory clarity.
“Blow-up risk is attenuated, due to improving regulation and the institutionalization of the space. The long-term pro-crypto forces will overwhelm the classic "four-year cycle" forces, to the extent those exist, and that 2026 will be a good year.”
Hougan stated that the most significant “cyclical-style risk” for Bitcoin is the rise of Bitcoin treasury companies.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has traded in positive territory over the weekend, posting marginal gains as it briefly crossed $118,000. The flagship cryptocurrency has faced substantial selling pressure in recent sessions. BTC has struggled to reclaim $120,000 but has held above $115,000, indicating that buyers have not ceded ground. Analysts believe BTC’s bullish structure remains intact, but price action will likely be steady rather than aggressive jumps.
“I think it’s more sustained, steady boom than super-cycle. I could be wrong, and I'm certain there will be significant volatility.”
The forecast comes days after CryptoQuant CEO Ki Young Ju said that he believes the Bitcoin four-year cycle is dead. Ju stated,
“My predictions were based on it — buy when whales accumulate, sell when retail joins. But that pattern no longer holds. Last cycle, whales were sold to retail. This time, old whales sell to new long-term whales. Institutional adoption is bigger than we thought.”
BTC registered a sharp drop on Friday after facing substantial volatility and selling pressure. As a result, it fell to a low of $116,805 before settling at $117,877, ultimately registering a 1.03% decrease. Sellers retained control over the weekend as BTC registered a marginal drop on Saturday before falling 0.48% on Sunday to settle at $117,240, but not before dropping to a low of $116,240. BTC started the week in positive territory, reaching an intraday high of $119,603. However, it could not stay at this level and settled at $117,402, registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settle at $119,982.
Source: TradingView
Despite the positive sentiment, BTC lost momentum on Wednesday, dropping 0.99% to a low of $117,321, before settling at $118,794. Buyers retained control on Thursday as the price fell 0.35% to $118,381. Selling pressure intensified on Friday as BTC plunged to an intraday low of $114,779. However, it rebounded from this level to reclaim $117,000 and settle at $117,565, ultimately registering a decline of 0.69%. The price recovered on Saturday, rising 0.24%. The current session sees BTC marginally down as buyers and sellers struggle to establish control.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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