🤑 Bitcoin’s Woes: A Tale of Bears, Bulls, and Bottoms 🤑

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Pray, allow me to impart upon you the latest tribulations of that most enigmatic of currencies, Bitcoin. It appears the poor dear is quite beset by selling pressures, with the bears holding sway over the markets in a most unseemly manner. 😒

“Why, oh why, is Bitcoin not pumping?” inquired the esteemed analyst and Stock-to-Flow model founder, PlanB, with a sigh that could rival Mrs. Bennet’s upon the subject of her daughters’ marriages. On Wednesday, no less.

He declared, with a gravity befitting the occasion, that half of the selling is perpetrated by “OGs traumatized by the events of 2021, technical investors fixated upon their RSI [relative strength index], and those four-year cycle enthusiasts who foresee a bear market two years post-halving.” The remaining half, he assures us, is purchased by investors of a more steadfast nature, including institutions, TradFi, and banks. An “epic battle,” he termed it, “until the sellers are bereft of ammunition.” 🏹

The Bears Hold the Upper Hand

Alas, it is quite clear that the bears are presently triumphant, though one must not despair, for the war is far from over. Bitcoin has suffered a decline of approximately 31% from its zenith, but such corrections are not unheard of and have been observed in cycles past. 🌪️

“Bitcoin may yet descend further,” remarked crypto entrepreneur Joe Consorti with a shrug, “though I do not anticipate it as my primary scenario.”

He further elaborated that when the asset found itself similarly oversold in late 2018, it plummeted an additional 44%. In 2022, the scenario was even more dire, with a 54% drop. “Should a proper bear market be upon us,” he warned, “matters could deteriorate most grievously.” 😱

“Yet, BTC might also meander and form a bottom here,” he added, recalling the events of September 2024 and April 2025, “though bottom formation, I must remind you, is a process of considerable duration.”

Bitcoin may yet descend further, though I do not anticipate it as my primary scenario.

When BTC was similarly oversold in late 2018, it plummeted an additional 44% – in 2022, a further 54%.

Should a proper bear market be upon us, matters could deteriorate most grievously.

Bitcoin might meander…

– Joe Consorti (@JoeConsorti) December 16, 2025

Meanwhile, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, was most bearish indeed, declaring, “I foresee Bitcoin retreating to $10,000.” A decline below the nadir of the last cycle, approximately $15,000, is deemed highly improbable and would likely herald the demise of all crypto assets. A most dire prognosis, to be sure. 💀

Nevertheless, Bitcoin currently endures its longest-ever consecutive period of “extreme fear,” according to the Fear & Greed Index and market observers. One can scarcely imagine the trepidation! 😰

The Prospects for Bitcoin’s Price

Bitcoin has modestly recovered from its low of $85,000 on Monday, briefly ascending to $88,000 on Tuesday. However, the buying pressure at these levels proved insufficient, causing the asset to retreat to $87,500 during the Wednesday morning Asian trading session. A most vexing state of affairs. 😤

Upon closer examination, it becomes apparent that BTC has been range-bound for the past month, following the precipitous declines of October and November. This could portend the formation of a bottom or, alas, a final grasp at support before another calamitous fall. Only time will tell. ⏳

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2025-12-17 10:05