Crypto Crystal Ball 2026: Are We Headed for Bitcoin and Crypto Winter?

In 2025, advantageous regulatory outcomes helped supercharge a delirious crypto bull run—but that blistery streak has since petered out. Now galore traders are asking themselves: Was this it? Is it backmost to different carnivore marketplace already? 

For Decrypt's yearly Crypto Crystal Ball series, we're diving heavy connected the questions that could specify the adjacent twelvemonth for integer assets, and what they mean for you.

We've already looked astatine whether the crypto manufacture volition beryllium capable to walk its coveted marketplace operation bill, and if Wall Street is poised to soon go the sector's adjacent nemesis. Today, we airs a question that's surely connected galore of your minds: Will 2026 beryllium a crypto winter?

While fiscal analysts person somewhat diverging views connected the people adjacent twelvemonth is apt to take, astir are successful statement that the reply to that burning question is simply a resounding no. 

“We bash not spot crypto wintertime connected the skyline successful immoderate sense,” Zach Pandl, Grayscale’s caput of research, told Decrypt of the firm’s 2026 outlook.

Pandl predicts, connected the contrary, that Bitcoin volition apt interruption different all-time terms grounds successful the archetypal fractional of the year. The token reached its astir caller all-time precocious of $126,000 successful aboriginal October, but has since slipped significantly.

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Greg Magadini, manager of derivatives astatine Amberdata, agrees that 2026 won’t spiral into a crypto carnivore market—but besides sees the twelvemonth going a spot little smoothly. He anticipates 2026 volition beryllium a "volatile mix” of aggravated moves for Bitcoin and Ethereum successful some directions.

“I deliberation 2026 is going to beryllium scary connected the beforehand extremity for crypto longs, and past large connected the backmost extremity for crypto longs,” Magadini told Decrypt.

The expert anticipates Bitcoin volition apt driblet beneath $67,000 successful the archetypal fewer months of the year, earlier yet rallying to a caller all-time high, perchance betwixt $150,000 and $200,000. 

The quality successful outlook betwixt the analysts comes down to what they deliberation is driving the existent crypto bull run. Magadini, for instance, thinks crypto prices are present tied firmly to macroeconomic sentiment, which helium anticipates volition dip owed to a recognition crunch successful the archetypal 3rd of 2026, earlier rebounding aft cardinal banks respond to the challenge.

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“Everything that's crypto-specific is already priced in, and it's been arsenic bully arsenic it tin be,” Magadini said.

Grayscale’s Zach Pandl disagrees. He maintains that the crypto bull market’s stamina volition beryllium determined by 2 intra-industry trends: request for alternate stores of value, and further regulatory moves that accelerate the inclination of crypto integrating with the accepted economy.