Bitcoin Set to Break Four-Year Cycle with New Highs Predicted for 2026

Bitwise's Ryan Rasmussen predicts Bitcoin will see new highs in 2026 and surpass $1 million by 2030.

The cryptocurrency hit $79,000 on surprisingly hot inflation data last Friday but remains roughly 38% below its October 2025 record of $126,198.

Rasmussen attributes the current weakness to factors such as higher oil prices, geopolitical conflict, and interest-rate expectations shifting from cuts toward potential hikes.

However, he notes that a trend reversal started in August when U.S. spot Bitcoin ETFs attracted $3.52 billion, their strongest result of 2026, while Bitcoin gained about 25%.