$126K Isn’t the Top: Analyst Says Bitcoin’s Real Reversal Is Still Far Off

Bitcoin kicked off November with fresh weakness as it slipped toward $107,000, as the market remained on edge about deeper downside ￰0￱ the market still hasn’t shown any real strength, a growing number of traders now believe that $125,000 marked the official cycle ￰1￱ crypto analyst Mr Wall Street is now directly opposing the popular ￰2￱ argues the exact opposite and explained that the current price behaviour proves that this level is nowhere near a proper cycle exhaustion ceiling. 120 Days Sideways His core evidence is that Bitcoin has now spent 120 days moving sideways between the Value Area High at $120,000-$123,000 and the Value Area Low at $107,000-$110,000 with zero breakdowns below support and zero confirmed reversals at ￰3￱ his view, if $125,000 truly was the top, the price would not be holding strong at the bottom of the range for 4 months while retail panic-sells.

Instead, the analyst points out that even after retail sold roughly 365,000 BTC during this sideways range, around 3,150 BTC per day, the price still refused to crack below $107,000-$110,000, which he believes is the clearest sign that large institutional buyers are absorbing every coin dumped by small ￰4￱ Wall Street says that if this were a true top, a breakdown would have already happened, especially given the amount of supply that has been flushed ￰5￱ the lower boundary refuses to break, he believes this is not a distribution into a top, but an accumulation before the next leg ￰6￱ also highlights that there is a visible imbalance to the upside, which points back to a move toward $120,000-$123,000.

He personally remains long from an average entry of $107,750 and said there is nothing in the structure that suggests closing those longs is necessary or ￰7￱ Bears Push Back Not everyone is optimistic about Bitcoin’s ￰8￱ prominent analyst ‘Doctor Profit’ said that Bitcoin is not positioned for another immediate leg ￰9￱ to him, the end of Quantitative Tightening has only been announced for December 1, 2025; it has not started yet, and until that date arrives, the Fed is still removing liquidity from the ￰10￱ is bearish for risk assets, including ￰11￱ also corrected claims that the Fed “printed” $50 billion last week, while observing that this was simply a temporary overnight repo loan and not new money ￰12￱ Bitcoin, he says this detail matters because the crypto asset only truly rallies when real liquidity enters the system.

Currently, the reverse is ￰13￱ liquidity is being withdrawn, repo stress is emerging, and banks are paying more to borrow ￰14￱ believes that this is classic late-QT tightening, the same stage that preceded the 2019 repo crisis and the 2020 ￰15￱ a result, Doctor Profit says traders expecting Bitcoin to surge higher soon are making the wrong assumption.