Was Bitcoin’s $126,000 peak on October 6 the last high of this cycle? (Vote)

Uptober started off with a bang as BTC added over $15,000 in just a few days, breaking through its August 2025 all-time high and hitting a new chart at just over $126,000.

But it’s been mostly downhill since then, especially the last eight days. In fact, BTC lost over $23,000 in one week, only to recover slightly to $107,000 at the time of writing. Still, it’s down nearly $20,000 from its October 6 peak. The question that is currently attracting attention in the crypto community is whether the top of this bullish cycle has entered.

PlanB took it up in a recent poll, which showed that 68% of 36,089 voters disagree and believe BTC has more room to grow during this cycle.

32% think $126,000 is the best.
63% think Bitcoin will fall below $100,000
68% think 2026 will be a bear market
but why? Could you please explain (preferably with data and charts) the reason behind the large drop/bear market from here? pic.twitter.com/rzCZanpTtg
— PlanB (@100trillionUSD) October 18, 2025

However, an earlier poll by the popular Bitcoin commentator and man behind the BTC stock-to-flow model showed that 62.9% of 30,833 voters believe the cryptocurrency will eventually fall below the coveted $100,000 level. Therefore, he asked people’s reasons behind the upcoming big declines and bear markets.

Some relied on past performance to determine how long it would take for BTC to peak after halving, while others brought up liquidity architecture. Adlegoff84 said that BTC’s price “no longer reflects intrinsic demand, but rather the timing of liquidity manipulation by institutional investors.”

“ETFs and custodial products rebalance through controlled absorption of supply. Derivatives amplify that through perpetual funding and delta-neutral hedging. Central bank liquidity policy sets the tempo. I think what people refer to as ‘bear market risk’ is often liquidity rotation, or profit extraction before capital reallocation. Charts capture movement. Fluidity reveals motivation. ” they added, to which Plan B “agreed 100%.”

I agree 100%. It’s all about rebalancing and rotation (and mandates), which would certainly be very bullish. I’d like to see these rotations and rebalances on a chart (but of course that’s very difficult since I don’t have the data).
— PlanB (@100trillionUSD) October 18, 2025