Currently (January 2026), Bitcoin fluctuates around $89k–$91k, continuously slipping below $90k, on-chain metrics extremely bearish: CryptoQuant confirms early bear market with negative profitability, apparent demand -67K BTC/30 days, weak ETF inflows (~3.8K BTC), realized P&L shifted to loss, strong whale outflows. Glassnode reports persistent overhead supply, fragile conviction, low MVRV, supply below cost basis increasing. Dark news: Total market cap only ~$3.02T (sharply reduced), Pantera Capital predicts "brutal pruning" – only 1-2 players will survive, the rest will be acquired or die. Amberdata: 4-year cycle ends, institutional flows cannot save it. Many analysts warn of downside to $70k–$80k, even $58k–$35k bear case. X posts full of doom: "global market collapse 2026", "98% lose everything", "80% cryptocurrencies disappear", "crypto dead", "99% altcoins die forever". With widespread disillusionment, VCs hold investments, startups wipe out, users exit en masse, liquidity dries up, 2026 may wipe out most weak projects, altcoins bleed to zero, only institutional stablecoins remain. The crypto market as we know it will disappear forever! Extremely cautious!