Bitcoin price started to decline after reaching a new all-time high of $126,000. The price is now trading around $106,000 again, and many people are wondering if this is the end of the bull run.
Among those sharing their thoughts is a top analyst known as Mr. Anderson on X, a market analyst who has commented on Bitcoin’s previous moves. He pointed out that the $123K range was always expected to be tough to move away from. Each rejection, in his view, has only opened another opportunity for accumulation at lower levels before the next push higher.
What Anderson Thinks About BTC Price Behavior
Mr. Anderson referred to how his earlier Bitcoin calls turned out, including his expectations around $69K and later when Bitcoin fell to $16K and recovered. Based on that experience, he now believes the current phase looks similar to previous cycles where Bitcoin consolidated for a long time before breaking into new highs.
He described the current zone as a reaccumulation stage, not a signal of weakness. His approach focuses on market psychology: buying when prices feel dull and selling when excitement returns. That mindset echoes what many experienced traders describe as buying “wholesale” and selling “retail”, taking positions when interest is low and sentiment is flat.
They laughed when I called $123K at $69K.
— Mr. Anderson (@TrueCrypto28) October 17, 2025
They laughed when I called “back to $69K” at $16K.
Both printed.
Now here we are again, the $123K range was always meant to be a difficult level to pull away from. We’ve rejected it hard three times… each one giving us the chance to… pic.twitter.com/d7S3RVX8dr
Why the $148K Level Matters for Bitcoin
The number that stands out in Anderson’s analysis is $148K. He sees it as the level that could define the next major move for Bitcoin. The idea is not about a guaranteed target but about how markets behave around key psychological points. If Bitcoin manages to build enough momentum beyond $123K, that next zone could be where disbelief turns to optimism again.
According to his reasoning, the current apathy among investors is not necessarily bearish. When markets stop reacting emotionally, that quiet often becomes the foundation for the next surge. It mirrors how Bitcoin moved in earlier cycles, especially before breaking past $20K in 2020, when many had already stopped paying attention.
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Bitcoin price patterns often repeat over time: rallies, corrections, and long phases of sideways movement before fresh highs. The present structure, based on Anderson’s interpretation, seems to follow that same rhythm. Each rejection near $123K gives the market another chance to strengthen its base.
For those studying long-term behavior, this is less about short-term trading and more about recognizing how sentiment cycles unfold. Bitcoin has historically climbed strongest when most people stop expecting it to.
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