As cryptocurrency markets enter 2026 with a sharp correction, investors continue their search for the “bottom.”
In their latest session, technical analysis experts Gareth Soloway and Scott Melker (The Wolf of All Streets) discussed market dynamics and shared striking predictions about the future of Bitcoin and altcoins.
Market analyst Scott Melker noted that Bitcoin has turned the 50-day moving average (MA) into support on daily charts, highlighting the possibility of a short-term relief rally. Melker stated, “If this level holds, we could see Bitcoin move back towards the $94,000-$95,000 range, or even $100,000 in an optimistic scenario.”
However, experts agree that the 50-day moving average on the weekly charts represents significant resistance at the $100,000 level. Citing examples from past bear markets, analysts say that if this resistance is not overcome, Bitcoin risks a pullback to the 200-day moving average at $60,000.
As the reasons behind the stagnation of Bitcoin and Ethereum are debated, the “hot money” theory has come to the forefront. Gareth Soloway suggested that some of the speculative capital in cryptocurrencies may have shifted to silver and precious metals, which have recently gained popularity.
Melker attributed the stagnation in altcoins to three main reasons:
- The fact that money entering Bitcoin comes through ETFs prevents this capital from “flowing” into altcoins.
- Investors who previously speculated on altcoins are now turning to platforms that make predictions about events such as election results or weather conditions.
- The current prices of altcoins are based more on speculation than their primary use cases, and it may take longer for them to reach their true value.
The 2026 US midterm elections are of great importance to the crypto industry. While experts believe Bitcoin is now a “legitimate asset” and less affected by political changes, they have highlighted the regulatory risks for the altcoin market. Melker warned that if critical legislation like the “Clarity Act” fails to pass and anti-crypto figures gain power in Congress, the industry could enter another period of uncertainty.
*This is not investment advice.
