Bitcoin reached a peak of $126,000 in 2025 but struggled to maintain its gains, with several altcoins underperforming. Analysts, including Ran Neuner and BullTheoryio, attribute the challenges to weak liquidity in the market. Despite high optimism reflected in the fear and greed index, macroeconomic trends indicate that 2026 might offer more favorable conditions for a robust bull cycle. The anticipated end of quantitative tightening (QT) and an improvement in liquidity are expected to set the stage for a stronger bull run and a potential altseason in 2026. Market participants are closely watching these developments as they could significantly impact the cryptocurrency landscape in the coming year.