Bitcoin price slides 19% in Q4 as ETFs drain liquidity but 2026 outlook stays bullish

Bitcoin is heading for a 19.15% drop in Q4, with short-term holders selling at a loss, extreme fear dominating sentiment, and ETF outflows weighing on liquidity. On-chain indicators such as SOPR and MVRV suggest capitulation could continue for another few months, yet some analysts expect the asset's maturing volatility profile and institutional demand to help it reach new highs in 2026.