“Bitcoin going to zero” searches have been trending lately, and Scott Melker says that’s exactly why he’s buying.
In a new interview on Binance’s Inside the Blockchain 100, the Wolf of All Streets made a case that most people caught in the current drawdown aren’t considering: the bear market playbook doesn’t apply to a cycle that never followed the bull market playbook.
Bitcoin hit its all-time high of $126K in October 2025 early – too early, driven by ETF flows before the market was ready. There was no altcoin season and no blowoff top. We didn’t even hit 2x the previous all-time high, when history suggested 3-4x.
“The cycle is largely broken,” Melker said. “For those who believe we’re about to get an 85 or 90% trip to the downside like previous bear markets, I would ask why we would get commensurate downside if we never got the proportional upside.”
His parallel is summer 2021, when Bitcoin dropped 55% from $65K to $28K before recovering to a new all-time high. The current drawdown from $126K sits at a similar percentage. If that pattern holds, this isn’t a bear market, but just a painful but temporary pause.
Melker flagged four signals he watches at cycle bottoms and says all four are flashing right now.
Weekly RSI on the Bitcoin chart is at historic lows, even below 2022 levels. The Fear & Greed Index has hit its lowest reading ever. “Bitcoin going to zero” Google searches are at an all-time high. And Bitcoin is approaching the 200-week moving average, which is a level that has historically marked the bottom of every major cycle.
Crypto Rover added more context today: 44% of Bitcoin’s circulating supply is now held at a loss. That is a capitulation signal.
Melker is explicit: Bitcoin bottoming doesn’t mean altcoins recover. His diagnosis for why altcoin liquidity collapsed is specific: prediction markets.
“I believe prediction markets have very little to do with Bitcoin but have largely destroyed the altcoin cycles,” he said. The gamblers who drove memecoin and altcoin cycles found a better casino. That liquidity isn’t coming back the same way.
His advice for Bitcoin specifically: automate, dollar-cost average, stop watching the price. “I’ve been buying quite a lot in the 60s.”
The silence in the market right now isn’t just fear. According to Melker, it’s what a bottom looks like before anyone admits it.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ripple’s connection with Japan is once again grabbing attention, and this time, it’s not just…
Crypto isn’t exactly exciting right now. Prices are choppy, traders are cautious, and many are…
SIREN price has posted a sharp 30% rebound today from recent lows of $0.14, reacting…
Story Highlights The live price of the Zilliqa crypto token is . Zilliqa’s price could…
Story Highlights The live price of 1 Inch network crypto is . 1inch Network token…
Story Highlights Solana Price Today is . SOL stabilized bullish momentum may assist in reclaiming…
