Bitcoin’s (CRYPTO: BTC) latest correction has traders questioning whether the recent bounce is a genuine recovery, or just a temporary rally before deeper pain ahead.
What Happened: Crypto analyst Trader Mayne admitted he misjudged the severity of Bitcoin’s pullback. He initially expected support around $98,000, but BTC plunged into the low-$80,000s instead.
Now, with Bitcoin rebounding roughly $11,000 and breaking key downtrend levels, he sees room for a strong relief rally, just not a return to all-time highs.
Mayne has flipped from 70% bullish to 70% bearish, projecting a lower high and identifying the $106,000-$112,000 area as a prime zone to de-risk.
He expects sentiment to turn optimistic again as “QE” and “rate cuts” narratives re-enter the market, potentially lifting BTC back above $100,000 and spilling over into Ethereum (CRYPTO: ETH) ($4,000) and Solana (CRYPTO: SOL) ($170-$200).
Also Read: Ethereum Outpaces Bitcoin, Solana In Speculative Demand — Is A Big Move Coming?
Why It Matters: Despite the short-term upside setup, Mayne warns of a potential macro breakdown in 2026.
His plan: exit spot positions early that year, then wait for a major re-entry opportunity near $50,000 sometime in late 2026 or 2027.
Supporting the cautious tone, CryptoQuant data shows a rising wave of large Bitcoin deposits hitting exchanges, both in total size and as a percentage of all inflows. The 30-day SMA of large deposits has been climbing since Nov. 24 and is now nearing its previous Oct. 28 peak, typically a sign that bigger players are preparing to sell, de-risk, or rotate capital.
While exchange wallet-tag updates can skew short-term readings, the broader message remains – big money is moving coins onto exchanges, and that supply pressure shouldn’t be ignored.
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Bitcoin, Ethereum, XRP, Dogecoin Hold Steady As Crypto Market Valuation Back Above $3 Trillion
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$BTCBitcoin – United States dollar$90851.48-0.51%Overview$ETHEthereum – United States dollar$3042.870.93%$SOLSolana – United States dollar$137.08-2.66%Market News and Data brought to you by Benzinga APIs
