Analysis: Bitcoin has entered the post-cycle digestion phase, and the current market situation is similar to mid-2019.

DeepFlowTech · 2026-01-28T06:03:03+00:00

Bitcoin has entered the late digestion phase of the 2023-2025 market cycle. The current market conditions are similar to 2019, and it is expected to reach the cycle peak by Q4 2025. Macroeconomic resilience is maintained, liquidity expansion is limited, and market risk-return favors capital preservation. Investors should be alert to increased volatility and market adjustments.

DeepFlowTech

2026-01-28 06:03:03

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Deep Tide TechFlow News, January 28 — Bitcoin has completed the 2023-2025 market cycle and entered the post-cycle digestion phase. According to the latest analysis in Benjamin Cowen’s “Q1 2026 Crypto Macro Risk Memo,” the current market situation is similar to mid-2019, with Bitcoin reaching the cycle peak in Q4 2025. However, unlike previous peaks driven by euphoria, this peak was propelled by market apathy rather than enthusiasm.

The report indicates that while the macroeconomic environment has cooled, it remains resilient, limiting significant liquidity expansion and making the risk-reward profile of the crypto market more focused on capital preservation. Although a rebound is possible and some assets are performing well, structural upside will remain constrained until liquidity, participation, and on-chain conditions reset.

Market adjustments driven by apathy tend to be more volatile than those following a frenzy, characterized by multiple counter-trend rebounds rather than a single sharp decline. Investors should be prepared accordingly.

BTC-5.19%

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