Analysts warn Bitcoin could enter 2026 bear market, targeting $58,000

Multiple analysts expect Bitcoin could face a bear market in 2026, with some projections pointing toward prices near $58,000, Cointelegraph reported on Jan. 23. Titan of Crypto said Bitcoin flashed a bear signal after the MACD turned lower with a bearish cross on the two-month cycle, noting that historical drawdowns from similar technical structures have ranged between 50% and 64%. BTC is trading roughly 9% below its 2026 high of $97,930 and beneath the 75% percentile cost basis level at $92,940; Glassnode data show the asset is trading under the cost basis of 75% of supply and downside risk remains dominant until that level is reclaimed. Trader Merlijn The Trader said price has returned to an uptrend-line support zone around $89,000–$90,000, cautioning that a breakdown could invite a retest near $84,000; a cost distribution heatmap shows investors bought about 941,651 BTC around that area over the past six months, with another key support near $80,000 where roughly 127,000 BTC were previously accumulated.