Multiple analysts predict that Bitcoin will be in a bear market in 2026, possibly falling to $58000 On January 23rd, according to Cointelegraph, multiple analysts predict that 2026 may be a bear market year for Bitcoin, with multiple predictions suggesting that Bitcoin prices may fall back to around $58000. Analyst Titan of Crypto recently issued a statement stating that "Bitcoin has just sent out a bear market signal," based on a bearish crossover in MACD over a two month cycle. He pointed out that from historical experience, similar technological forms often trigger a 50% -64% drawdown. The latest round of selling has caused BTC to retreat about 9% from its 2026 high of $97930. As a result, Bitcoin fell below several key support levels, including the current 75% percentile cost price at $92940. Glassnode stated in a post on Thursday that Bitcoin "has currently fallen below the holding cost price of 75% supply, indicating increasing allocation (selling) pressure," and added, "Risk has clearly shifted upward, and downside risk still dominates until it regains that level Trader Merlijn The Trader analyzed that the price of Bitcoin has "returned to the support level of the uptrend line," which is located between $89000 and $90000. He added that if the level falls, the price is likely to retrace to the low point of the range, around $84000. The heat map of Bitcoin cost distribution shows that in the past six months, investors have cumulatively bought about 941651 BTC near this price range, indicating that this price range constitutes an important key support level. The next important support level is around $80000, and historical data shows that approximately 127000 BTC were previously bought in this price range. Multiple analysts believe that the weakening of the derivatives market, selling by long-term holders, and increased transfer of Bitcoin to trading platforms may drive Bitcoin prices into a more sustained downward trend this year.