Bitcoin's Bear Market: Experts Predict Price Drop to $70,000
New York, Sunday, 19 October 2025.
Elliott Wave experts foresee a significant bear market for Bitcoin, predicting prices could fall to $70,000 or lower by late 2026, raising concerns about cryptocurrency investments.
Elliott Wave Analysis Predicts Bear Market
Elliott Wave experts, including Jon Glover, predict that Bitcoin is poised to enter a bear market cycle, with potential price declines reaching as low as $70,000 by late 2026. Glover, the Chief Investment Officer at Ledn, suggests that the Bitcoin bull market that commenced in early 2023 has concluded. This prediction comes after Bitcoin’s price fell from a peak of $126,000 earlier this month to around $104,000, indicating a bearish trend [1].
Market Reactions and Historical Patterns
The bearish outlook is consistent with Bitcoin’s historical trend of peaking and then entering a bear market approximately 18 months after each halving event, with the most recent halving occurring in April 2024. Analysts predict that Bitcoin’s price could drop to between $70,000 and $80,000, with the downturn expected to extend into late 2026 [1][2]. Data from Amberdata shows that put options are trading at a premium compared to calls through September 2026, suggesting that traders are preparing for prolonged downside risks [1].
Economic Impact and Investor Concerns
The anticipated bear market has raised alarms among investors and financial managers, as Bitcoin’s market capitalization significantly influences the broader cryptocurrency market, which recently saw a $600 billion loss in market value. This downturn is exacerbated by global economic factors, including trade tensions between the U.S. and China, which have reversed Bitcoin’s safe-haven status [3][4].
Bitcoin’s Current Market Status
As of October 19, 2025, Bitcoin is trading at approximately $107,369. Despite the recent price decline, market sentiment remains bearish, with a Fear & Greed Index score of 29, indicating fear among investors. The current market cap of Bitcoin stands at $2.18 trillion, with a trading volume that has decreased by 55% below the market average over the past month [5][6].