Crypto analysts are observing that traders in the cryptocurrency market are not showing enough concern to indicate a market bottom, according to Maksim Balashevich, founder of Santiment. He suggests that Bitcoin could potentially decrease to around $75,000.

“It looks very tempting to come even closer to it,” Balashevich mentioned in a recent YouTube video.

This potential drop represents a decrease of approximately 14.77% from Bitcoin’s current price of $88,350, based on CoinMarketCap data.

Bitcoin’s recent performance

Source: CoinMarketCap

According to Balashevich, he is hesitant about calling a market bottom due to the noticeable optimism seen online, which typically does not occur when a true market bottom is forming.

“The crowd isn’t scared enough for a bottom,” Santiment stated in a report on the same day.

Balashevich’s Skepticism on Market Sentiment

Balashevich expressed concern over overly optimistic comments stating, “In one particular crowd-dominated or retail-dominated channel, they’re mostly discussing Bank of Japan cut rates, and bears got caught, and now we’ll continue up from here. These kinds of statements are not what I want to see.”

He added that if the situation were more favorable, he would feel more confident in declaring a market bottom.

Recently, Japan’s central bank raised interest rates to a 30-year high of 0.75%, which has historically triggered corrections in Bitcoin prices of around 20%.

Additionally, Balashevich believes that a decline to the $75,000 mark could offer a favorable setup for traders. Meanwhile, Jurrien Timmer from Fidelity predicts that Bitcoin might experience a downturn, potentially dropping to about $65,000 in 2026.

Competing analyst perspectives suggest that 2026 could see Bitcoin performing well.

Contradicting Market Indicators

While Balashevich remains skeptical, various market indicators paint a different picture. The Crypto Fear & Greed Index has been reflecting “Extreme Fear” since mid-December 2025. The current score stands at 20, categorizing it firmly in the fear zone.

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Other indicators indicate positions of caution among traders, with the Altcoin Season Index suggesting it is currently a “Bitcoin Season”.