AllianceDAO Co-creation: The Bitcoin bear market is fundamentally driven by market psychology rather than external factors

CycleProphet · 2026-02-26T11:06:19+00:00

AllianceDAO Co-Founder qw stated that Bitcoin price fluctuations are mainly influenced by technical analysis and investor psychology, and the market may currently be in a psychological capitulation phase. Trend reversals do not necessarily depend on specific catalysts.

CycleProphet

2026-02-26 11:06:19

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Deep Tide TechFlow News, February 26 — AllianceDAO co-founder qw posted on social media that although market participants have spent months searching for scapegoats for the Bitcoin bear market (such as Jane Street, quantum computing, software sell-offs, etc.), Bitcoin, as an asset not anchored to cash flow, mainly experiences price fluctuations driven by technical analysis. Technical analysis is essentially a reflection of group psychology. Believers in the four-year cycle theory outnumber those in the five-year cycle. When the trend is broken, investors tend to take profits or cut losses. Currently, the market may be in a phase of psychological surrender, and a trend reversal does not necessarily require a specific catalyst.

BTC-3,7%

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