Originally, we expected the 2025 Bitcoin Christmas rally to bring some surprises to the market. Unfortunately, the price has been fluctuating around $87,440, which seems more like a lack of strength.

Interestingly, technical analysts have discovered something quite alarming upon closer inspection: the current chart pattern looks a bit like the peak of the 2021 bull market. If history really repeats itself, the coming period could be very tough. Some analysts believe Bitcoin might test the $70,000 level downward, which is roughly similar to the 34% plunge in January 2022.

However, the market now feels like it's dozing off—neither clearly breaking upward nor experiencing a sharp decline. Some see this phase as a brewing period, believing that the current volatility is laying the groundwork for a possible super cycle in 2026. Whether it's building momentum or unable to rise further, time will tell.