On March 13, 2026, former U.K. Prime Minister Boris Johnson described Bitcoin as a "giant Ponzi scheme" in a Daily Mail column and on X, using a village scam story involving losses of about £20,000 to question the asset's value. Michael Saylor and other crypto supporters countered that Bitcoin lacks the centralized organizer and guaranteed returns typical of Ponzi structures, stressing its fixed 21 million supply and decentralized, open-source design. The dispute broadened into a wider debate over monetary systems, with some critics arguing that inflationary fiat currencies may be more vulnerable to long-term value erosion than Bitcoin's capped model.

On October 6, 2025, Bitcoin set its current all-time high at $126,100 before entering a corrective phase that analyst Darkfost says has lasted 159 days so far. Reviewing past cycles, the analyst notes it took 1,180 days after the 2017 peak and 1,093 days before the 2021 high, while the latest 2025 ATH followed after 849 days, implying the next record could still be years away even as the intervals gradually shorten. Darkfost also argues that new highs have historically been linked more to the end of bear markets than to Bitcoin’s halving events, despite the structural importance of halvings for supply and inflation dynamics.

Large Bitcoin wallets holding between 10 and 10,000 BTC have increased their share of the circulating supply to about 68.17% as the price hovers near $71,000, according to Santiment data. Bitcoin was trading around $71,350 at publication time, while analysts note that a durable market bottom may still hinge on retail investors turning more pessimistic and reducing exposure.

According to new on-chain data, the share of Bitcoin's circulating supply held on centralized exchanges has dropped to its lowest point since late 2017. After peaking in early 2020, this metric has been in a persistent decline as investors move coins into custody solutions and cold storage. With Bitcoin trading around $71,476 and exchange order books described as thin, even moderate demand could translate into higher price volatility.

Large Bitcoin wallets holding between 10 and 10,000 BTC have started adding to their positions again while the price trades near $71,000, according to Santiment. The share of Bitcoin supply held by these addresses has risen to 68.17% from 68.07% over seven days, and Santiment is watching whether retail-owned balances begin to fall to validate a potential local market bottom.

On Friday, March 13, Bitcoin again met resistance near $74,000 after trading in a consolidation band for about two weeks. On-chain URPD data shared by analyst Ali Martinez indicates BTC has entered a low-resistance zone, with few notable hurdles until roughly $82,045 and key support around $66,898. With Bitcoin hovering near $70,820 and up slightly over the last day and more than 3% in a week, a move to the $82,000 area would represent an advance of over 17% from the current level.

Bitcoin climbed to $73.9K before easing to $70.6K, extending its weekly gain to 12% and reinforcing its role as a hedge during ongoing West Asia tensions. Options positioning shows heavy call interest at $75K and put concentration around $60K, while $767 million of weekly net inflows into spot BTC ETFs support the latest recovery attempt. A sustained breakout above $75K may require renewed network growth or stronger buyer demand.

Bitcoin has fallen about 44% from its $126,080 all-time high, with a local bottom near $63,000 marking a 53% drawdown, yet an analyst known as Jelle on X argues this remains mild compared with earlier bear markets. Citing historical declines of roughly 84% in 2017 and 77% after the 2021 peak, as well as cycle lengths of 150–152 weeks for bull runs and 52–58 weeks for bear phases, Jelle suggests the present downturn could extend further and last until around October 2026. He also notes that a weekly RSI drop below 37 and a subsequent bullish divergence have historically signaled Bitcoin's final bear market lows, a structure he says has not yet appeared.