Bitcoin Setup Looks Like 2022 Bottom, But…

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Actually, there might be more than one signal suggesting BTC could be heading for another correction soon.

On-chain data and technical analysis provided by popular analyst Ali Martinez show that bitcoin’s current price structure is mimicking the 2022 bottoming cycle, which is both good and bad for the asset.

The negative part also comes from the behavior of whales, who have been sending BTC to exchanges en masse lately.

BTC 2026 vs 2022
The 2022 bear market was quite brutal, propelled mostly by the adverse developments within the cryptocurrency industry, including the collapses of Terra and FTX and the subsequent fallout for many linked entities. BTC plunged from the then-all-time high of almost $70,000 to under $16,000 in a year.

Martinez outlined several similarities between the price moves at the time and the cryptocurrency’s current setup. More precisely, he believes there could be another major rejection, as it happened when BTC tapped $25,000 in August/September 2022 before it was driven south to the aforementioned low.

If his chart is to mimic the 2022 scenario, bitcoin could find itself dumping below $55,000 after getting rejected at around $80,000-$82,000.


Several altcoins have produced even more impressive gains over the past day, with TON, SOL, and AVAX standing out from the larger caps.

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