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The founder of Santiment identified the primary catalyst for the upcoming bullish cycle of Bitcoin., 2026/02/07 10:34:04
The founder of the Santiment platform, Mikhail Balashevich, stated that the primary catalyst for the onset of a new bullish cycle for Bitcoin will be the liquidation of positions held by the largest public corporate holder of the leading cryptocurrency — the company Strategy.
Balashevich drew a comparison to the fall of 2022, when the collapse of the FTX cryptocurrency exchange marked a peak of pessimism among traders and investors in the crypto market.
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“It was precisely after the destruction of the ‘main symbol of faith’ that a prolonged increase in the asset began. Currently, for the crypto industry to experience more sustainable growth, a deeper shock is necessary, such as the liquidation of Strategy’s positions,” he explained.
According to Balashevich, in the short term, the price of Bitcoin could rise to the range of $92,000–95,000, but this increase may be swiftly interrupted by a new wave of selling.
The market still needs to undergo a cleansing phase from large leveraged positions before a stable movement towards new historical highs can commence. The chances of Bitcoin reaching a new historical maximum this year are extremely low, concluded the founder of Santiment.
Previously, crypto analyst and trader known by the pseudonym Rekt Capital stated that the first cryptocurrency could return to the level of $93,000 and surpass this threshold — but not before 2028.
