Bitcoin 'Not Likely' to Make New All-Time High in 2026, Research Suggests

Bitcoin's prospects of reaching a new all-time high in 2026 appear limited, according to new research from asset manager Bitwise. The firm outlined three critical tests the market must pass for a sustained rally in the year ahead. These include legislative clarity in the U.S., avoidance of a major equity market downturn, and continued ETF inflows according to Bitwise analysis.

Lithium demand is also shifting, with energy storage expected to account for 31% of consumption in 2026. This trend reflects broader market adjustments as supply and demand dynamics evolve. Analysts have noted that while lithium prices saw a surge in late 2025, future gains could be constrained by overcapacity and technological shifts, such as sodium-ion battery adoption as reported by Reuters.

Bitmine Immersion continues to expand its crypto holdings, adding 33,000 ether in recent weeks. The firm now holds over 4.14 million ETH, valued at around 3.43% of the total supply. Bitmine plans to increase its staking operations through an in-house validator network, expecting over $1 million per day in rewards according to Coindesk reporting.

Why Did This Happen?

The crypto rally entering 2026 is supported by strong year-to-date gains, with Bitcoin and ether both up around 7%. However, the market faces key risks, including the outcome of U.S. crypto legislation. The Senate Banking Committee is expected to markup the proposed bill in mid-January, but significant disagreements remain around DeFi regulation and stablecoin oversight as Bitwise analysis indicates.

Institutional involvement remains a key driver. Bitmine's strategic accumulation and staking efforts highlight growing confidence in ether's long-term value. The firm's plans to launch its own validator network underscore the importance of infrastructure in supporting crypto adoption and returns according to Coindesk coverage.

How Did Markets React?

Bitcoin traded near $92,000 as of January 7, 2026, with price volatility intensifying ahead of the weekly close. Traders are closely watching liquidity levels and order-book activity for clues about potential price movements. A key support level is seen around $88,000, while $92,000 represents a critical resistance zone. If Bitcoin breaks through this level, it could signal renewed bullish momentum according to Cointelegraph analysis.

The broader market environment remains mixed. While crypto assets have rebounded early in 2026, equity markets continue to face uncertainty, particularly with regard to interest rates and inflation. A sharp downturn in equities could negatively impact crypto's performance, as both asset classes often move in tandem as Coindesk reports.

What Are Analysts Watching Next?

Analysts at Bernstein have expressed optimism about Bitcoin's long-term trajectory, forecasting a price target of $150,000 for 2026 and $200,000 by 2027. The firm attributes this outlook to the growing adoption of stablecoins and tokenized real-world assets. It also expects total value locked in blockchain protocols to nearly double to $80 billion by the end of 2026 according to Bernstein research.

Meanwhile, the functional pet food market is experiencing rapid growth, projected to reach $7 billion by 2035. Rising pet ownership and the pet humanization trend are driving demand for nutrition-focused products. North America leads the market, but Asia Pacific is expected to grow at the fastest pace as GlobalNewswire reports.

Rumble's recent launch of a non-custodial crypto wallet in partnership with Tether has further expanded the utility of digital assets. The platform now allows users to tip content creators in BTC, USDT, and XAUT. This move aligns with growing interest in decentralized financial tools and could contribute to broader adoption of crypto in everyday transactions according to Coindesk coverage.