Bitcoin (BTC) continues to face market pressure, and some analysts remain cautious about its long-term outlook. Chinese Bitcoin miner Jiang Zhuoer recently suggested that BTC could decline to a range of $42,000 to $44,000 by the end of 2026.
According to Zhuoer, one indicator supporting this view is the declining Market-to-Net Asset Value (mNAV) ratio of Strategy, one of the largest corporate holders of bitcoin. He noted that the company’s mNAV has fallen to approximately 0.72, approaching the 0.70 level seen during the 2022 market downturn, when Bitcoin dropped to around $15,000.
Could Bitcoin Experience Another Major Correction?
Bitcoin entered a prolonged bearish trend in October 2025 after reaching an all-time high of $126,080. Investor sentiment weakened amid growing economic uncertainty and rising geopolitical tensions. Market conditions deteriorated further in early 2026 following escalating tensions between the United States and Iran.
Additional pressure emerged this month after U.S. inflation reportedly rose to 4.2% in May 2026. Concerns about the stability of the U.S.-Iran peace agreement have also raised fears of higher crude oil prices, which could place further strain on the global economy.
Meanwhile, the U.S. Federal Reserve maintained its current interest rate policy at its most recent meeting. However, some market participants expect additional rate increases later in the year. Higher interest rates have historically weighed on risk assets, including cryptocurrencies, and could contribute to further volatility in Bitcoin’s price.
Bitcoin Could Bottom Between $42K And $44K
Bitcoin could bottom between $42,000 and $44,000 in late 2026, according to Chinese miner Jiang Zhuoer.
Jiang said Strategy’s mNAV has fallen to 0.72, nearing the 0.7 level seen during the 2022 market downturn.
He noted Bitcoin… pic.twitter.com/dPzfHWw6nJ
— BSCN (@BSCNews) June 25, 2026
More Optimistic Views Remain
Not everyone shares the bearish outlook. Investor Anthony Scaramucci has expressed a more positive perspective, arguing that Bitcoin may have already established a market bottom. He expects BTC to recover in the coming months and has projected a move toward $70,000.
Regulatory developments could also influence market sentiment. The proposed CLARITY Act, if enacted, may provide greater regulatory certainty for the cryptocurrency industry. Supporters believe clearer regulations could improve investor confidence and potentially create a more favorable environment for Bitcoin and other digital assets.
