Weekend technical analysis by institutions shows that Bitcoin has already exhibited initial signs of a bull market.

The most interesting part is the data comparison: Bitcoin closed lower in December, marking the third consecutive month of decline. Looking back at historical records, such a three-month consecutive decline has only occurred 15 times in total. And after each of these "triple dips," January often becomes a springboard for a rebound — this pattern is quite intriguing.

From a macro perspective, the strategy head of a major asset management firm recently pointed out several key signals. First, the Federal Reserve's balance sheet is expanding; second, the US Treasury account (the thing similar to a government check account) balance is decreasing. Both of these changes are positive for Bitcoin.

"Liquidity is improving, funds are flowing, and the stock market is finally outperforming Bitcoin a bit," said the strategist quite straightforwardly.

As for the price movement? Under certain scenarios, Bitcoin may test the $105,000 to $106,000 range. But the core logic of this analyst is: there could be a noticeable correction in the first half of this year, followed by a rebound from the second half onward, with plenty of room for imagination by the end of 2026.