Bitcoin's recent slump isn't a sign of crypto-specific trouble, but don't hold your breath for another massive price surge next January, according to Ophelia Snyder, co-founder of 21Shares. She reckons the current choppy market waters will make it tough for Bitcoin to repeat the big gains it saw in early 2025 as we head into 2026.
Downtrend: Not Just a Crypto Problem
Bitcoin hit a peak of $109,000 on January 9th, just before Donald Trump's inauguration. The price climbed further to its all-time high of $125,100 on October 5th. But then came the infamous $19 billion liquidation event on October 10th.
Bitcoin trading around $92,150 at time of publication. Source: CoinMarketCap
Currently, Bitcoin is hovering around $92,150, having dropped almost 10% in the last month. However, in the long run, Snyder is actually quite bullish — she sees the recent correction as a reaction to a general "risk-off" sentiment in the broader financial world, rather than a problem unique to crypto.
The Forces Pulling Bitcoin Up and Down
Snyder sees several major forces that could push Bitcoin higher: wider ETF access across major platforms, increased government adoption, and growing demand for stores of value beyond gold. On the flip side, continued risk-off sentiment and gold's strength could cause Bitcoin to underperform in the near term.
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