cryptomarket

Bitcoin has delivered one of the most violent reversals of this cycle — crashing from $126,000 in October to nearly $59,000 by February 2026. Months of gains were erased. Euphoria turned into fear.

But here’s what’s changing 👇

Over the past several days, $BTC has stabilized between $63,000 and $70,000. Volatility is cooling. Selling pressure is slowing. And structurally, this looks very different from the panic phase we saw earlier.

According to crypto analyst @gmulun (Ulun), this could be the final emotional reset before expansion begins. His 8-month roadmap outlines a cautious short-term outlook… followed by a potentially explosive recovery.

📉 Phase 1: Final Bottom (March)

Ulun expects one more downside sweep — potentially toward $55,000.
This would:
• Complete a full capitulation structure
• Trigger maximum fear
• Flush weak hands before accumulation

Historically, major bull cycles often begin right after maximum emotional exhaustion.

🧱 Phase 2: Accumulation (April)

Sideways action. Low excitement. Quiet absorption by strong hands.
Confidence won’t return immediately — but the heavy distribution phase would likely end here.

Smart money typically accumulates during boredom, not euphoria.

💰 Phase 3: Liquidity Shift (May–June)

Ulun’s thesis includes a potential Federal Reserve rate cut acting as a macro catalyst.

If liquidity improves:
• Risk assets benefit
• Crypto capital inflows increase
• Open interest expansion accelerates

June could mark the first strong impulsive move upward — reigniting optimism.

🔄 Phase 4: Reset Before Breakout (July)

No straight lines in crypto.
A healthy consolidation here would strengthen structure before testing prior highs.

🚀 Phase 5: New ATH (August–September)

Ulun projects:
• Break above $126,000 in August
• Extension toward $150,000–$160,000 by September

This would push $BTC into price discovery and likely ignite a broader altcoin rally.

🧠 Market Psychology — Where Are We Now?

Using the Wall Street Cheat Sheet model:
• $126K = Euphoria
• $59K = Panic / Capitulation
• $63K–$70K = Late capitulation / Early anger

If accurate, we’re closer to emotional reset than to fresh collapse.

📊 Additional Metrics To Watch

For confirmation of this roadmap:
• ETF inflows & institutional positioning
• Miner selling pressure
• Long-term holder supply trends
• Funding rates & derivatives leverage
• Global liquidity (M2 expansion)

The real driver won’t just be sentiment — it will be liquidity returning to the system.

🎯 The Big Question

Is $55K the final shakeout before expansion?
Or does macro uncertainty delay the cycle reset?

Eight months in crypto can completely rewrite the narrative. If liquidity improves and structure confirms, the path toward six-figure Bitcoin becomes technically possible again.

⚠️ This outlook is analysis, not financial advice. Always manage risk and avoid emotional trading.