CryptoQuant has indicated that the ongoing Bitcoin bull run may be concluding, citing a bearish divergence on the weekly BTCUSD chart and the lack of a spike in the Stock-to-Flow (S2F) ratio. The analysis suggests that Bitcoin's price could drop to a minimum of $32,000 by the third or fourth quarter of 2026. Additionally, the predicted price range could top out at $51,700, based on historical S2F patterns.