“Bitcoin going to zero” searches have been trending these days, and Scott Melker says that’s precisely why he’s shopping for.
In a brand new interview on Binance’s Contained in the Blockchain 100, the Wolf of All Streets made a case that most individuals caught within the present drawdown aren’t contemplating: the bear market playbook doesn’t apply to a cycle that by no means adopted the bull market playbook.
Bitcoin’s 4-12 months Cycle Is Damaged
Bitcoin hit its all-time excessive of $126K in October 2025 early – too early, pushed by ETF flows earlier than the market was prepared. There was no altcoin season and no blowoff prime. We didn’t even hit 2x the earlier all-time excessive, when historical past recommended 3-4x.
“The cycle is essentially damaged,” Melker stated. “For many who imagine we’re about to get an 85 or 90% journey to the draw back like earlier bear markets, I might ask why we’d get commensurate draw back if we by no means acquired the proportional upside.”
His parallel is summer season 2021, when Bitcoin dropped 55% from $65K to $28K earlier than recovering to a brand new all-time excessive. The present drawdown from $126K sits at the same proportion. If that sample holds, this isn’t a bear market, however only a painful however momentary pause.
Bitcoin Backside 2026: 4 Indicators Are Flashing at As soon as
Melker flagged 4 alerts he watches at cycle bottoms and says all 4 are flashing proper now.
Weekly RSI on the Bitcoin chart is at historic lows, even beneath 2022 ranges. The Worry & Greed Index has hit its lowest studying ever. “Bitcoin going to zero” Google searches are at an all-time excessive. And Bitcoin is approaching the 200-week transferring common, which is a degree that has traditionally marked the underside of each main cycle.
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Crypto Rover added extra context as we speak: 44% of Bitcoin’s circulating provide is now held at a loss. That may be a capitulation sign.
Is Altcoin Season Useless for Good?
Melker is specific: Bitcoin bottoming doesn’t imply altcoins recuperate. His prognosis for why altcoin liquidity collapsed is particular: prediction markets.
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“I imagine prediction markets have little or no to do with Bitcoin however have largely destroyed the altcoin cycles,” he stated. The gamblers who drove memecoin and altcoin cycles discovered a greater on line casino. That liquidity isn’t coming again the identical method.
His recommendation for Bitcoin particularly: automate, dollar-cost common, cease watching the value. “I’ve been shopping for rather a lot within the 60s.”
The silence out there proper now isn’t simply concern. Based on Melker, it’s what a backside seems to be like earlier than anybody admits it.
