- Bitcoin traded below $90,000 after an October peak above $126,000 and is down roughly 6.8% year-to-date.
- A Stocktwits poll shows retail traders split: ~50% expect $90,000–$100,000 by year-end, 28% expect $80,000–$90,000, and ~22% expect below $80,000.
- Analysts disagree on whether the traditional four-year “halving” cycle still governs price action.
Bitcoin (BTC) traded under $90,000 on Wednesday after falling from an October high above $126,000. The cryptocurrency is down about 6.8% year-to-date and would need to reach roughly $93,300 to break even for the year.
A poll on Stocktwits shows nearly half of respondents expect Bitcoin to finish the year between $90,000 and $100,000. About 28% expect it to remain between $80,000 and $90,000, while roughly 22% predict a slide below $80,000 by Dec. 31.
Price action slipped below $87,000 Wednesday morning, down approximately 0.6% over 24 hours. Retail sentiment on the platform remained described as “extremely bearish” amid what the platform called “normal” levels of chatter.
The pullback followed heavy profit-taking after strong institutional inflows earlier in the year, with analysts noting increased selling by long-term holders. Fundstrat’s Tom Lee questioned whether Bitcoin still follows the four-year halving cycle and said, “If Bitcoin makes a new high in January, there’s no four-year cycle,” adding, “If Bitcoin closes above 126,000 – there’s no four-year cycle.”
Morgan Stanley strategist Denny Galindo described the market as in a harvest phase, saying, “We are in the fall season right now.” Other market figures, including former Binance CEO Changpeng ‘CZ’ Zhao, argued the market may be entering a different regime and said Bitcoin could be entering a “super cycle.”
Halving: a scheduled reduction in the reward miners receive for adding new blocks, typically occurring about every four years.
For updates and corrections, email newsroom@stocktwits.com.
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