Bitcoin May Struggle to Repeat January’s Gains, Says 21Shares Founder

As we move into 2026, current market conditions present challenges for Bitcoin to replicate its impressive price increases from early 2025. This insight comes from Ophelia Snyder, co-founder of 21Shares, who shared her thoughts with Cointelegraph.

Key Takeaways

Current market conditions may hinder Bitcoin's ability to replicate January's price gains in 2026.
Bitcoin reached a peak of $109,000 in January 2025 but has since fallen to $92,150 due to market volatility.
Factors that could promote Bitcoin's growth include more crypto ETFs and government adoption, while risks include broader market sentiment and competition from gold.
Historical trends show that January tends to be a profitable month for Bitcoin, with an average return of 3.81% since 2013.

Bitcoin May Struggle to Repeat January’s Gains, Says 21Shares Founder

"Achieving another major spike next January will highly depend on the overall market sentiment," Snyder explained. She noted that January typically sees an influx of investments into Bitcoin exchange-traded funds (ETFs), as investors often reevaluate and adjust their portfolios at the year's beginning.

Market Trends and Predictions

Snyder emphasized uncertainty around Bitcoin's performance in January, particularly given the prevailing low levels of positive sentiment surrounding the market. In January 2025, Bitcoin hit a record peak of $109,000 on January 9, coinciding with Donald Trump's impending inauguration — a time when traders were hopeful that the new administration’s cryptocurrency policies would trigger a price rally.

Cryptocurrencies, Bitcoin Price
Bitcoin is trading at $92,150 as of the publication date. Source: CoinMarketCap

Despite climbing to a high of $125,100 on October 5, Bitcoin entered a downward trend following a significant $19 billion liquidation event in the cryptocurrency market on October 10. This event led many traders to adopt a more cautious outlook after previously holding optimistic projections for the end of the year.

As of now, Bitcoin trades at $92,150, reflecting a nearly 10% decline in the last month according to CoinMarketCap. Nonetheless, Snyder remains hopeful for Bitcoin's long-term prospects. "I’m feeling more optimistic because this recent correction seems more like a response to general risk-averse sentiments in the broader financial landscape, rather than issues specific to crypto," she remarked.

Potential Catalysts for Bitcoin's Future

Snyder identified multiple forces that could drive Bitcoin's success going forward, such as the increasing availability of cryptocurrency ETFs on prominent platforms, heightened governmental adoption, and a growing interest in assets that serve as stores of value, similar to gold.

Conversely, she warned of possible headwinds that might hinder Bitcoin's performance, including a prevailing risk-off sentiment across larger financial markets and a sustained bullish trend in gold, which may discourage traditional investors from considering Bitcoin.

In contrast, some industry leaders express a more positive outlook. For instance, Tom Lee, a chair of BitMine, recently predicted that Bitcoin could reach a new high before the close of January 2026. Historically since 2013, Bitcoin has maintained an average return of 3.81% in January, as reported by CoinGlass.