Mr. Wall Street, a widely followed Bitcoin trader, has argued that BTC may have reached its cycle peak at $126,000, outlining potential dip prices by the fourth quarter of 2026.
In a post on X, Mr. Wall Street noted that with BTC trading at $94,885, following a 10.6% drop over the past week, the next significant support range lies between $74,000 and $82,000.
The analyst emphasized that the longer-term structure suggests a corrective phase that could extend down to $54,000, following the completion of the bullish cycle.
Bitcoin Cycle: Consolidation, Breakout, and Next Targets
The weekly Bitcoin chart shared by Mr. Wall Street shows that Bitcoin climbed steadily throughout 2024 and into 2025, ultimately reaching its cycle peak in October.
During this cycle, Bitcoin first hit a peak of $73,750 in March 2024, then consolidated for six months before breaking out to $100,000 by the end of 2024. The momentum carried into early 2025, with Bitcoin reaching around $110,000 around President Trump’s inauguration.
After a brief consolidation, another breakout occurred in July, which later saw Bitcoin hit its peak at $126,000 in October. Since then, the market has turned bearish.
Following the cycle top, the chart shows a reversal pattern forming, with Bitcoin dropping below the $104,000 support region.
Bitcoin has now entered a descending structure of lower highs and lower lows, signaling a possible multi-year corrective phase.
