Bitcoin unlikely to replicate January’s surge to new high: 21Shares founder

Current marketplace conditions volition marque it hard for Bitcoin to replicate its aboriginal 2025 terms gains going into 2026, says 21Shares co-founder Ophelia Snyder.

“It’s improbable that the factors driving the existent volatility volition afloat resoluteness successful the abbreviated term,” Snyder told Cointelegraph.“A repetition show adjacent January volition beryllium heavy connected broader marketplace sentiment.”

Snyder explained that January often sees “renewed inflows” into Bitcoin (BTC) exchange-traded funds arsenic investors rebalance and reposition portfolios astatine the commencement of the year.

Downtrend isn’t “anything crypto specific”

Snyder said it is unclear however Bitcoin volition execute successful January, fixed the existent debased level of affirmative marketplace sentiment.

Bitcoin reached a then-peak of $109,000 connected Jan. 9, conscionable 1 time earlier Donald Trump was acceptable to beryllium inaugurated, arsenic traders stake his projected plans for the crypto assemblage would spark a rally.

Bitcoin is trading astatine $92,150 astatine the clip of publication. Source: CoinMarketCap

Bitcoin climbed to its existent precocious of $125,100 connected Oct. 5, but it soon entered a downtrend, pursuing the $19 cardinal crypto marketplace liquidation lawsuit connected Oct. 10. 

The lawsuit prompted galore marketplace participants to follow a cautious short-term terms outlook aft initially holding much optimistic year-end terms expectations.

Bitcoin is trading astatine $92,150 astatine the clip of publication, down astir 10% implicit the past 30 days, according to CoinMarketCap.

However, the existent situation has Snyder feeling much optimistic astir the agelong term.

“I americium feeling much bullish arsenic I spot this astir caller correction arsenic a effect to a wide risk-off sentiment to broader marketplace conditions, alternatively than thing crypto specific,” she said.

Catalysts up for upside and downside

Snyder said that respective factors could propulsion Bitcoin to further outperform, including the enlargement of crypto ETFs connected large platforms, accrued authorities adoption and rising request for stores of worth beyond gold.

Related: Strategy won’t beryllium forced to merchantability Bitcoin if banal drops, Bitwise CIO says

She said imaginable catalysts that could spot Bitcoin underperform see risk-off sentiment crossed broader fiscal markets and continued spot successful gold, which could marque Bitcoin little appealing to accepted investors.

However, different manufacture executives are much optimistic astir past repeating itself. 

BitMine seat Tom Lee precocious said that Bitcoin volition scope a caller precocious earlier the extremity of January 2026.

Since 2013, Bitcoin has averaged a instrumentality of 3.81% during the period of January, according to CoinGlass.

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