Ivan on Tech Tells Bitcoin Bulls to Chill: The 'Big Flush' Is Totally Coming, Trust Me

Crypto analyst Ivan Liljeqvist is here to ruin your vibe with a gentle reminder that Bitcoin has absolutely not reached its cycle bottom—and brace yourself, because a proper flush to the downside might still be lurking. This comes as BTC flirts with the $76,000 level on Tuesday, riding a brief wave of geopolitical chaos and a shock US PPI print like it's 2019 and nobody told it the party's over.

In what might be the most depressing thread you'll read today, Liljeqvist insists Bitcoin hasn't yet experienced "the big flush"—his technical term for the kind of violent purge that makes weaker hands weep into their keyboards. His hot take? $60,000 was absolutely not the bottom, and bulls clinging to that level are basically tilting at windmills. "I don't think $60,000 was the bottom. You can pray for it, of course, but it won't help. Trend is still down. The few % bounces are tiny if you zoom out," he helpfully noted, as if someone had asked.

The analyst also spotlighted MicroStrategy's STRC dividend cycle as a sneaky driver behind recent BTC price action. Apparently, buy pressure on STRC peaks around the 15th of each month like clockwork, giving Michael Saylor's Bitcoin-maximalist headquarters a window to print more shares and reload on the orange coin. It's almost like clockwork—if that clock was powered by shareholder dilution and hopium.

But here's the kicker: Liljeqvist says MicroStrategy's buying pressure alone can't muscle BTC through key resistance levels. He called the current environment "risk-off since October" and basically told degens to stop yoloing and start stacking stablecoins under their mattresses instead. Capital preservation, he says, is the move. Revolutionary advice, truly.

Now, before you panic-sell everything and move to a bunker, there's a silver lining wrapped in institutional money. Fidelity Digital Assets pointed out this month that downside action in 2026 has been decidedly less dramatic than in previous cycles. Their theory? Approximately 12% of BTC's circulating supply is now sitting in the coffers of public companies and ETFs, basically acting as a giant cushion for the inevitable drops.

Previous cycles—when retail ruled the roost—were absolute bloodbaths. We're talking an 82% haircut after the 2017 peak and a delightful 77% crater following the 2021 highs. The current 40% drawdown from ATH looks almost quaint by comparison, suggesting the market's underlying structure has fundamentally changed. Or maybe institutions just have thicker skin. Hard to say.

So the million-sats question remains: does institutional buying actually hold the floor