Bitcoin May Hit $140K Before 2026 Bear Market
Don’t Call the Top Yet: Elliott Wave Expert Predicts Bitcoin Will Hit $140,000 Before Entering Bear Market in 2026
Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, recently experienced a 4% correction, briefly dipping below $112,000. This pullback came after weeks of profit-taking by long-term investors around the $120,000 level and coincided with declines in major crypto-related stocks like MicroStrategy (MSTR) and Coinbase (COIN).
However, according to John Glover – Chief Investment Officer (CIO) at crypto financial services company Ledn – this is merely a technical retracement wave, a necessary pause before Bitcoin resumes its upward momentum. Glover forecasts that BTC could rally to $135,000 – $140,000 by the end of this year, before transitioning into a bear market in 2026.
“The market is currently stuck in the ‘summer doldrums,’ but Bitcoin’s price action remains on track. Once wave iii of the larger wave 5 cycle is completed, we should see BTC reaching $135,000 – $140,000 by late 2025,” said John Glover.
Understanding Elliott Wave: The Natural Cycle Of The Market
The Elliott Wave Theory, introduced by Ralph Nelson Elliott in 1938 in The Wave Principle, explains market movements based on crowd psychology and repeating fractal-like patterns.
- Core Structure:
+ A primary market trend typically unfolds in 5 waves: three upward (1, 3, 5) and two corrective (2, 4).
+ Impulse waves can sometimes extend, forming smaller 5-wave structures within the main trend.
- Post-impulse Correction: After five main waves, markets often enter a 3-wave corrective phase (A-B-C), completing the classic 5-3 cycle.
- Multi-timeframe Nature: These patterns appear across all timeframes, helping analysts pinpoint the market’s position and predict future price movements.
Currently, based on Elliott Wave analysis, Bitcoin is in impulse wave (iii) of the extended wave 5. This wave is projected to peak near $130,000 in the coming weeks, followed by a pullback to $110,000 in September (wave iv), before a final impulse wave (v) drives BTC to a cycle top around $140,000.
Outlook For 2026: Bear Market Ahead
Glover believes that once Bitcoin hits the $140,000 region, many optimistic forecasts will emerge, projecting prices as high as $250,000 – $500,000 in 2026. However, he disagrees with these bullish views:
“When we reach around $140,000, many will expect even higher levels, but I believe Bitcoin will enter a bear market in 2026,” Glover stated.
This prediction contrasts with the prevailing narrative that institutional ETF adoption has broken Bitcoin’s historical 4-year cycle, which traditionally sees a peak during the halving year followed by an extended downturn.