Bitcoin Cycle Low May Not Arrive Until Late 2026

Bitcoin's next cycle low may not arrive until late 2026, according to on-chain research firms and cycle analysts. They note that a further macroeconomic deterioration or regulatory crackdown could push the bottom into 2027.

The global crypto market has seen significant sell-offs in the first half of this year, with its cumulative market cap standing at around $2.18 trillion. Bitcoin's price is down by more than 27% year-to-date (YTD).

Several firms, including Glassnode and Mudrex, project late 2026 as the most likely time for Bitcoin to make its cycle low. They also suggest that a market closer to a bottom than a top may be emerging.