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James Chek: “Bitcoin has transitioned from a freshwater pool to a saltwater ocean.”, 2026/03/18 12:25:25
The founder of the analytics service Checkonchain, James Check, stated in the Coin Stories podcast that Bitcoin has transitioned from a “freshwater pool” to a “salty ocean” — aligning with traditional financial markets.
According to him, the current dynamics of Bitcoin are primarily influenced by the psychology of market participants rather than technical indicators. This situation reflects the interaction between institutional investors and retail participants, who are prone to panic-driven decisions.
“The market is experiencing a phase of sideways movement and price decline, which typically frustrates participants before a stronger upward trend begins. The formation of a bottom is usually accompanied by fear rather than optimism,” Check remarked.
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He identified the $85,000 level as a significant resistance point. If the price falls below this threshold, he believes panic sentiments will intensify, leading to up to 70% of investors realizing losses.
Check suggested that over the course of the year, Bitcoin’s price will fluctuate within the range of $60,000 to $80,000. This trend aligns with market structure: after periods of high volatility, the asset enters an accumulation phase, where positions are redistributed from short-term participants to long-term investors.
Key factors influencing prices remain the actions of large capital and liquidity inflows. In the absence of new economic or regulatory drivers, the likelihood of breaking out of the range remains limited, Check noted.
Previously, analysts from the trading firm QCP Capital stated that the concept of Bitcoin as a “safe haven” has become relevant again — the market is testing this notion under current conditions.
