CoinEx Exchange Manager Mal Zane: Bitcoin Price Could Reach $200,000 by January 2026
Mal Zane, regional manager of the CoinEx cryptocurrency exchange in the CIS, commented on the fall in Bitcoin quotes and shared his forecast for the end of the year. According to him, the sharp decline to $110,000 showed the weak market structure of the main cryptocurrency. After a jump above $117,000 against the background of positive signals, the growth did not continue. However, despite everything, by the beginning of 2026, the rate of the flagship digital coin BTC may grow to $200,000.
According to the expert, the dynamics were affected by low liquidity, restructuring of ETF positions and profit-taking by early holders. An additional factor was liquidations in the amount of over $900 million, which confirmed the overheating of the market. Zane noted that the price pressure was strengthened by the withdrawal of 24 thousand BTC by a “sleeping” whale, which caused a cascading decline.
The expert believes that this triggered a sharp drop in the Bitcoin rate over the weekend. An attempt to recover on Monday stopped at $113,000, after which sellers took over. The situation demonstrated the vulnerability of buyers and the high sensitivity of the market to large capital movements.
According to Zane, Bitcoin ETFs, which have previously supported the price, are now going through a phase of strategic rebalancing. Last week, outflows from Bitcoin ETFs exceeded $1 billion, the worst performance since March. This broke a trend of steady inflows and coincided with weakening demand from retail investors in the spot market.
Zane emphasized that additional pressure came from Ethereum. ETH products have already received multi-billion dollar infusions in August due to strong dynamics. As a result, Bitcoin has been overshadowed by the rotational cycle, which has increased traders' wariness. On-chain metrics also confirm the fading of momentum: realized profits have returned to breakeven levels, and short rebounds are quickly fading.
According to the expert, the weakness of retail traders has not changed the approach of institutional participants. Large investors are using the current decline to increase their positions. The BTC rate is currently at a crossroads: either consolidation in the range of $110,000–$120,000, or a decline to $105,000–$100,000 if the momentum does not recover.
Zane noted that without a new macroeconomic trigger, the market is likely to enter a consolidation phase. Possible factors could be a reversal in Fed policy, a rate cut, or new capital inflows. Otherwise, the market will continue to digest the recent selling.
The long-term picture remains stable. Institutional accumulation will outpace new supply. Zane predicts that once macroeconomic uncertainty is removed, Bitcoin will retain the foundation for another assault on the highs. He expects $130,000 in October-November and $200,000 in December-January.
Source: cryptonews.net
