Recently, there has been a surge in searches for “Bitcoin going to zero,” and Scott Melker believes this is precisely the reason he is increasing his investments.
In a recent discussion on Binance’s Inside the Blockchain 100, Melker, known as the Wolf of All Streets, presented an argument that many individuals currently affected by the market downturn may not be considering: traditional bear market strategies do not apply to a cycle that never adhered to conventional bull market patterns.
The Disruption of Bitcoin’s Four-Year Cycle
Bitcoin reached its peak price of $126K in October 2025 much earlier than anticipated—primarily fueled by ETF inflows before the market was adequately prepared. There was no significant altcoin season or explosive top; we didn’t even achieve double our previous all-time high when historical trends suggested we should have seen increases of three to four times.
“The cycle is fundamentally broken,” stated Melker. “For those who think we’re about to experience an 85% or even 90% decline like in past bear markets, I would question why we would see such drastic downsides if we never experienced corresponding upsides.”
He draws parallels with summer 2021 when Bitcoin fell from $65K to $28K—a drop of 55%—before bouncing back to reach new heights. The current decline from $126K mirrors this percentage closely. If history repeats itself, what we’re witnessing now might not be a bear market but rather a challenging yet temporary setback.
Indicators Suggesting Bitcoin’s Bottom in 2026
Melker highlighted four key indicators he monitors during cycle bottoms and noted that all are currently signaling at once.
The weekly RSI on Bitcoin’s chart has plummeted to historic lows, dipping below levels seen in 2022. The Fear & Greed Index has recorded its lowest value ever. Searches for “Bitcoin going to zero” have peaked at unprecedented levels. Additionally, Bitcoin is nearing its crucial 200-week moving average—a threshold that historically signifies the bottom of major cycles.
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Crypto Rover provided further insights today: currently, around 44% of Bitcoin’s circulating supply is being held at a loss—a clear signal of capitulation.
The Fate of Altcoin Season
Melker makes it clear that while Bitcoin may hit bottom soon, it does not guarantee recovery for altcoins. He attributes the collapse in altcoin liquidity specifically to prediction markets.
You can read more here: Altcoins Are Struggling But Not All Are Doomed: Easter Weekend Crypto Watchlist
“I believe prediction markets are largely disconnected from Bitcoin but have significantly impacted altcoin cycles,” Meler explained. The speculators who previously drove memecoin and altcoin trends seem to have found more lucrative options elsewhere; thus their liquidity isn’t likely returning anytime soon.
If you’re focusing on investing specifically in Bitcoin right now: automate your purchases through dollar-cost averaging and avoid obsessively tracking prices.“I’ve been buying quite heavily when prices were around sixty thousand,” Meler shared confidently.
The current quietness within the market isn’t merely due to fear; according to Melker, it’s indicative of what typically occurs at bottoms before anyone acknowledges them openly.