Analyst Says Bitcoin’s ‘Big Flush’ Still Lies Ahead
Crypto analyst Ivan Liljeqvist warned that Bitcoin (BTC) has not but reached its cycle backside and {that a} vital sell-off nonetheless lies forward.
The remarks come as BTC teases with additional upside after testing the $76,000 threshold on Tuesday in a quick rally tied to shifting geopolitical sentiment and a shock US PPI.
Analyst Warns the Bitcoin Bottom Is Not In
Liljeqvist stated that Bitcoin has but to expertise what he referred to as “the large flush.” He argued that $60,000 was not the low and that the broader development stays firmly downward.
“I don’t suppose $60,000 was the underside. You can pray for it after all nevertheless it gained’t assist. Trend remains to be down. The few % bounces are tiny in the event you zoom out,” he wrote.
Further, the analyst pointed to MicroStrategy’s STRC dividend cycle as a driver behind latest BTC value actions.
Buy stress on STRC tends to peak across the fifteenth of every month. That permits Michael Saylor’s agency to concern extra shares and lift capital for Bitcoin purchases.
However, Liljeqvist stated that MicroStrategy alone can’t push BTC above key resistance levels. He described the present surroundings as “risk-off since October” and urged capital preservation over aggressive positioning.
Institutional Demand May Limit the Drawdown
Despite the bearish outlook, institutional participation might stop the steep drawdowns seen in earlier cycles.
Fidelity Digital Assets noted earlier this month that draw back threat in 2026 has been much less dramatic than in prior intervals.
The agency attributed this to roughly 12% of BTC’s circulating provide now held by public firms and ETFs.
Previous retail-driven cycles produced far sharper declines. BTC fell 82% after its 2017 peak and 77% following the 2021 high. The present drawdown of roughly 40% from its final all-time high suggests a structural shift in how bear markets play out.
Still, whether or not institutional shopping for flooring maintain or give strategy to deeper capitulation stays the central query for merchants watching BTC heading into the second half of 2026.
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