Following a tumultuous period for Bitcoin BTC$91,028.55 during October and November of 2025, the leading cryptocurrency has begun to show signs of stability, fluctuating within the $85,000 to $90,000 range for several weeks now.
A number of analysts predict that this current situation may persist.
“There could be factors that might drive prices higher in the upcoming weeks,” stated Gerry O’Shea, head of global market insights at Hashdex. He pointed out potential changes in U.S. monetary policy or advancements in cryptocurrency legislation as possible catalysts. “However, at this moment, we find ourselves in a market characterized by limited movement.”
Jim Ferraioli from Schwab’s Center for Financial Research shared a similar cautious perspective. “We anticipate that 2026 will be favorable for Bitcoin,” he mentioned while clarifying that Schwab does not provide specific price forecasts. “Nevertheless, it might turn out to be a rather uneventful year from a crypto standpoint.”
Ferraioli noted that the recent shift in momentum within the crypto market is notable but also reflects the natural progression of an evolving asset class. “From its low point in November 2022 to its peak last October at $126,000, Bitcoin saw an eightfold return over three years,” he explained. “The market is still processing those gains.”
Since reaching that record high last October, on-chain activity has decreased significantly; meanwhile, investments into exchange-traded funds (ETFs) have emerged as key drivers behind price movements. “We observed reduced transaction fees and long-term holders liquidating their assets while exchange balances dropped to new lows,” Ferraioli elaborated. “ETF flows were indeed propelling this trend.”
This transition has made Bitcoin more accessible but may also skew short-term market indicators. “Genuine institutional investors are still largely absent from this sector,” Ferraioli remarked further adding his thoughts on future developments: “Once we see some legislative progress made regarding cryptocurrencies; it could catalyze a more enduring rally.”
Hyunsu Jung from Hyperion DeFi commented on how Bitcoin’s narrative is currently shifting and noted how digital assets have taken a backseat compared to other investment classes—especially since ETF inflows peaked earlier this year before tapering off again without renewed institutional interest or significant macroeconomic changes.
This sentiment resonates with Will Reeves from fintech company Fold who expressed his belief that Bitcoin is merely awaiting shifts in supply and demand dynamics: “It’s fundamentally undervalued,” Reeves stated confidently adding his expectations about future trends: “It’s just waiting until persistent sellers run out and new buyers enter en masse.”
The question remains whether we are experiencing another crypto winter or not; opinions vary widely on this matter. According to Ferraioli’s assessment: “Bitcoin certainly fits into what would traditionally be defined as bear market conditions.” He added however due to its inherent volatility; corrections around 30% are somewhat anticipated.
“There always seems to be some perceived correlation with stock markets,” concluded Ferraioli thoughtfully; however he emphasized bitcoin’s unique drivers including money supply fluctuations alongside disinflationary growth patterns coupled with adoption rates—which remains one major uncertainty looming over us throughout this year.”