## What Awaits Crypto in 2026? Will We Face a Bear Market?

The question circulating among many traders this year is clear: will there still be a crypto winter in 2026? Looking at the consensus among leading industry analysts, the answer points in one direction—**a prolonged bear market is not expected next year**.

### The Bull Run Continues, But With a Twist

Currently, Bitcoin is at $91.84K, while Ethereum is at $3.15K. But the bigger picture is more complex. Experts agree that 2025 brought strong bullish momentum due to favorable regulatory developments. However, now, the direction is less certain.

The most important takeaway from the research: **there are no indications of a crypto winter in the near future**. Instead, analysts expect the market to continue gaining new momentum, especially for Bitcoin.

### Bitcoin: Ready for Greater Success

Zach Pandl, head of research at a major institutional player, believes Bitcoin is poised to reach a new all-time high in the first half of 2026. The token hit $126K in October, but has since declined.

Other analysts agree with his outlook, but with a caveat—the journey there will not be smooth sailing.

### The Volatile Road Ahead: Highs and Lows

Greg Magadini, derivatives expert, offers a more granular outlook. According to his research example, 2026 will be a "rollercoaster" for holders. He expects Bitcoin could drop significantly—possibly below $67,000—in the first quarter, before recovering and reaching $150,000 to $200,000 with fresh bull momentum.

"The start of the year will be turbulent for crypto hodlers, but the end looks promising," Magadini states in his analysis.

### Why the Divergence in Perspectives?

The divergence among experts centers on what truly drives the current bull run. Some believe macroeconomic factors—such as credit conditions and central bank policies—are the main determinants. If so, there may be a temporary pullback in the first quarter due to tightening credit conditions before a rebound.

Others, like Pandl, focus on long-term structural trends: the growing demand for Bitcoin as an alternative store of value, and regulatory clarity that will accelerate mainstream adoption. This is why he believes Bitcoin is set up for a strong 2026.

### Ethereum and Altcoins: Different Story

This is where the story diverges. While Bitcoin may enjoy independent bull momentum due to its store-of-value narrative, Ethereum and other altcoins are more dependent on regulatory developments—specifically, the outcome of proposed U.S. crypto market structure legislation next year.

If the bill passes, it will open new opportunities for altcoin adoption and institutional integration. If not, regulatory clouds could intensify over the altcoin space, and Ethereum might struggle more than Bitcoin.

### The Bottom Line

There is no crypto winter in 2026—this is the solid consensus. But the year will be volatile and dependent on how macroeconomic and regulatory variables unfold. For traders, the key is to prepare for temporary dips, especially in the early quarters, while maintaining a patient strategy for potential highs in the second half of the year.