Every Bitcoin bear market has gone through the same four stages… in the same order 📉
The same thing happened in 2014, 2018, and 2022:
1. Cycle peak: price at its peak and liquidity at its highest
2. First bottom: a sharp drop and liquidity leaving the market
3. Second bottom: a small rebound followed by another drop
4. Cycle bottom: price makes a lower low… but the liquidity indicator (MFI) makes a higher low
This divergence between price and liquidity appeared at the end of all three bear markets.
In the 2026 cycle, according to the same analysis, stages 1, 2, and 3 have occurred. After the second bottom, the weekly liquidity indicator returned to 81, while rebounds at the same stage in previous cycles never exceeded 60.
Based on price, the stage 4 bottom has yet to appear.
History is repeating itself… or will this time be different?$BTC
The same thing happened in 2014, 2018, and 2022:
1. Cycle peak: price at its peak and liquidity at its highest
2. First bottom: a sharp drop and liquidity leaving the market
3. Second bottom: a small rebound followed by another drop
4. Cycle bottom: price makes a lower low… but the liquidity indicator (MFI) makes a higher low
This divergence between price and liquidity appeared at the end of all three bear markets.
In the 2026 cycle, according to the same analysis, stages 1, 2, and 3 have occurred. After the second bottom, the weekly liquidity indicator returned to 81, while rebounds at the same stage in previous cycles never exceeded 60.
Based on price, the stage 4 bottom has yet to appear.
History is repeating itself… or will this time be different?$BTC
