What Happened: Crypto analyst Trader Mayne admitted he misjudged the severity of Bitcoin's pullback. He initially expected support around $98,000, but BTC plunged into the low-$80,000s instead.
Now, with Bitcoin rebounding roughly $11,000 and breaking key downtrend levels, he sees room for a strong relief rally, just not a return to all-time highs.
Mayne has flipped from 70% bullish to 70% bearish, projecting a lower high and identifying the $106,000–$112,000 area as a prime zone to de-risk.
Also Read: Ethereum Outpaces Bitcoin, Solana In Speculative Demand — Is A Big Move Coming?
Why It Matters: Despite the short-term upside setup, Mayne warns of a potential macro breakdown in 2026.
His plan: exit spot positions early that year, then wait for a major re-entry opportunity near $50,000 sometime in late 2026 or 2027.
Supporting the cautious tone, CryptoQuant data shows a rising wave of large Bitcoin deposits hitting exchanges, both in total size and as a percentage of all inflows. The 30-day SMA of large deposits has been climbing since Nov. 24 and is now nearing its previous Oct. 28 peak, typically a sign that bigger players are preparing to sell, de-risk, or rotate capital.
While exchange wallet-tag updates can skew short-term readings, the broader message remains – big money is moving coins onto exchanges, and that supply pressure shouldn't be ignored.
Read Next:
Image: Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
