Analysts Say Bitcoin Top Not In at $126K — Bull Cycle May Still Have More Fuel Left

Bitcoin’s rally might not be over just yet.
According to NewsBTC, prominent crypto analysts are challenging the notion that Bitcoin has already reached its peak after briefly touching $126,000, arguing that on-chain data and market momentum point to further upside potential in the ongoing 2026 bull cycle.

While some traders expected a pullback after such a strong run, new market signals suggest that the top may still be months away — and that Bitcoin could surprise even seasoned investors.

Key Indicators Point to Extended Bull Momentum

On-chain data reveals that long-term holders remain in accumulation mode, and exchange outflows continue to outpace inflows — both signs that whales are holding, not selling.

In addition, realized profits and funding rates remain moderate, indicating the market has yet to enter the euphoria phase that usually defines cycle tops.

“$126K doesn’t show the characteristics of a final top — metrics like dormancy, SOPR, and coin days destroyed suggest there’s still gas left in the tank,” one analyst noted.

Historical Patterns Support the Outlook

Historically, Bitcoin bull markets end only after clear distribution behavior and overheated leverage levels — conditions not yet present in current data.
Analysts compare the 2026 cycle to previous peaks in 2017 and 2021, suggesting a possible delayed blow-off phase that could push Bitcoin toward new highs before a major correction.

Some models now point to targets between $150,000 and $180,000, depending on institutional inflows and macroeconomic stability.

Institutional Flows Continue to Drive Market

Institutional investors remain active in spot Bitcoin ETFs, with strong inflows over the last two months.
Morgan Stanley, BlackRock, and Fidelity have all reported significant exposure increases through their crypto-related investment vehicles.

This institutional accumulation, combined with limited new supply post-halving, could sustain upward price pressure well into the second quarter of 2026.

“The difference this time is the depth of institutional liquidity,” said a Coinccino market strategist. “We’re in a structural bull phase — not just a speculative wave.”

But Volatility Remains

While optimism is rising, analysts caution that short-term volatility could persist, especially as macroeconomic indicators — including U.S. inflation and bond yields — influence risk assets.

If Bitcoin fails to maintain support around $118,000–$120,000, a short-term correction could occur before the next leg up.

Still, market sentiment overall remains strongly bullish, supported by high ETF demand and increasing long-term holder conviction.

Outlook: Bitcoin’s True Peak May Still Be Ahead

Despite skepticism from some traders, current data supports the case that Bitcoin hasn’t hit its final top yet.
With institutional accumulation strong and retail euphoria still subdued, the market may be entering a mid-cycle acceleration phase — one that could redefine expectations for the 2026 bull run.

In short: the Bitcoin rally might just be catching its second wind.