BroadChain has learned that according to a March 7 report from CoinDesk, CK Zheng, founder of the crypto hedge fund ZX Squared Capital, stated Bitcoin has entered a deep bear market. He warned that its price could fall by another 30% by 2026 as the influence of the "four-year cycle" intensifies.
Bitcoin previously hit an all-time high above $126,000 in October 2025—roughly 16 to 18 months after the April 2024 halving—before retreating to around $68,000. This trajectory largely aligns with the historical four-year cycle centered on halving events.
The psychological behavior of retail investors, who tend to buy during euphoria and sell in panic, has amplified this bear market cycle. Meanwhile, institutional adoption remains limited, with crypto ETFs and corporate treasury holdings accounting for only about 10% of the overall market.
In such a bear market, companies holding Bitcoin as a reserve asset may face pressure to sell their holdings to meet debt obligations, potentially exacerbating downward price pressure.