The calls of a potential Bitcoin supercycle in 2026 intensified over the past week after former Binance CEO Changpeng ‘CZ’ Zhao — yet another prominent voice in crypto — laid out his predictions for the new year. However, a popular analyst on the social media platform X has released an opposing view, predicting a deep bottom for the BTC price this year.

BTC Price At Risk Of Further 65% Decline

In a January 25th post on the X platform, prominent crypto trader Ali Martinez said, in a sarcastic tone, that “the super cycle is super cycling.” In what seemed like a response to the buzz around CZ’s Bitcoin supercycle projection, the market pundit tempered the expectations with a $31,000 price bottom call for the premier cryptocurrency in 2026.

This bearish prediction is based on the appearance of price fractals on the BTC chart. For context, fractals are repeating patterns in price charts that can help map and project potential price movements for a particular cryptocurrency (Bitcoin, in this scenario).

As observed in the chart above, the price of BTC is currently following a similar movement pattern as in 2022. The premier cryptocurrency, after initially setting a then all-time high around $67,000 in early 2021, witnessed a nearly 55% correction to just above the $30,000 level by mid-July.

While the price of Bitcoin recovered and went back to set a record high of above $69,000 by the end of 2021, the market leader spent the majority of the following year in a downward trend. Exacerbated by the various bearish events of 2022, BTC ended the year at a low of around $15,500.

Martinez believes that the Bitcoin price is undergoing a similar movement pattern, having experienced an over 32% decline before climbing to the current all-time high of $126,080. The market pundit postulates that the premier cryptocurrency is currently witnessing the extended decline that saw its price reach $15,500 in 2022.

However, it is worth mentioning that the target this time around lies at $31,800, nearly 65% drop from the current price point. Hence, if the historical patterns highlighted by Martinez are to go by, there seems to be a higher likelihood of the Bitcoin price embarking on an extended downward trend rather than a supercycle.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $88,528, reflecting an over 1% decline in the past 24 hours.

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This week was buzzing with significant developments in the cryptocurrency world. From UBS Group AG’s plans to offer Bitcoin and Ethereum trading to wealthy clients, to the launch of Dogecoin’s first SEC-approved ETF, the crypto market continues to evolve and expand. Here’s a quick roundup of the top stories.

UBS Plans Crypto Trading For Wealthy Clients

UBS Group AG, the world’s largest wealth manager, is reportedly preparing to offer Bitcoin and Ethereum trading to select private banking clients in Switzerland. The bank is currently selecting partners for the crypto offering after months of discussions. The initial rollout will be limited to select private banking clients in Switzerland who want to buy and sell Bitcoin and Ethereum.

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Novogratz Predicts Compromise On Stablecoin Rewards

Galaxy Digital Inc. CEO Mike Novogratz has predicted that the cryptocurrency industry will have to compromise on the controversial stablecoin rewards clause in the market structure bill. In a discussion with SkyBridge Capital founder Anthony Scaramucci, Novogratz said the industry is “going to lose that battle” against a “very strong” banking lobby.

Read the full article here.

Dogecoin’s First SEC-Approved ETF Goes Live

Dogecoin has taken another step into the financial mainstream with the launch of a spot ETF backed by the Dogecoin Foundation. The 21Shares Dogecoin ETF began trading on Thursday, offering investors exposure to the meme-born cryptocurrency through traditional brokerage accounts.

Read the full article here.

Winklevoss Twins Donate $1.4 Million To Zcash Network

Winklevoss twins, the co-founders of Gemini Space Station, Inc., donated over $1 million to support the privacy-focused Zcash cryptocurrency. The donation, worth $1.4 million, was made to Shielded Labs, an independent organization that supports the development of the Zcash network.

Read the full article here.

Trump Jr. Gathers ‘Smartest People’ For World Liberty Forum

Donald Trump Jr. announced the launch of the World Liberty Forum, an exclusive technology and finance gathering set for Feb. 18 at Mar-a-Lago, aimed at bringing together top influencers driving American innovation.

Read the full article here.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.