Does Bitcoin (BTC) reach its maximum cycle? Is the bear market coming? In the case of Stony Chambers Analysis Firm, the BTC market is actually at the final stage of the upward phase.
The analytics company ensures that Bitcoin prices will experience significant rebounds in the coming months. This increases the euphoria in the market and allows you to reach prices you’ve never seen before. But they warn that This rally could precede the new code winterthat is, a bear market that has already been observed in previous cycles.
The company’s analysis revealed that euphoric signals exist in several aspects of the market, particularly with the initial public offers (IPOs) within the cryptocurrency sector or the increase in companies. According to them, IPOs tend to occur at the last stage of the cycle.
“People buy it somewhat indiscriminately because they think prices will continue to rise,” they say from Stony Chambers.
One of the most impressive cases is Circle’s IPO (CRCL). Evaluations promoted by too optimistic expectationsthey say from the company.
Stony Chambers emphasizes that the entity has a market capitalization of USD 39 billion, but is trading 25 times its sales. This is because such a high multiple suggests that investors are paying far more than the company is actually getting sales.
Other companies such as Strategy (MSTR) have continued their shares in stock in 2025, generating generalized enthusiasm by investors, particularly those interested in BTC, according to Stony Chambers.
The following image shows the biggest IPO of 2025. The top 10 offers for the two strategies are in the top 10.
Similarly, the company emphasized the “institutionalization” of cryptocurrency. He is a major investor and traditional companies such as BlackRock. They are increasing participation in Bitcoin and other digital assetsreinforced the belief that cryptocurrencies are more widely accepted and are causing euphoria and enthusiasm in the market.
As they see it from Stony Chambers, cryptocurrencies have become commonplace, and traditional institutions are now involved in this market.
This is what raises:
“MSTR is the best performance action compared to other companies on the S&P 500. It’s incredible that BlackRock is changing its focus and thrust on Bitcoin and ETH ETFs. The fact that the president and the first American woman launch their own Memecoin is an incredible story.”
Stony Chambers, investment company.
It also adds to this, along with the trends of companies creating Bitcoin treasures and other cryptocurrencies. Examples such as strategy and Bitmine’s immersion stand out. Companies with the largest amount of Bitcoin and ether (ETH) respectively.
For entities, this trend requires a huge amount of energy so that people can follow the rhythm. “This is exactly why the market structure never lasts for a long time.”
They make it clear that companies that employ IPOs or cryptocurrency do not cause bear markets by selling their holdings at scale or committing fraud, but they argue that the spread of these entities is growing.”This is almost a sign of the stage we are in the cycle. ”
According to Stony Chambers, in the order of ideas, the above reveals that the market has reached a point of euphoria. It could be marking the end of this bullish cycle.
What price does Bitcoin arrive?
Based on the above, the Stony Chambers company continues to recommend purchasing Bitcoin. That forecast establishes the price of BTC could exceed USD 175,000 before 2026and in bullish cases it’s 300,000 USD.
However, the analysis states that risk should not be ignored. Macroeconomic panoramic uncertainty, not just political uncertainty, but also the possibility of new commercial rates by the US. They can generally affect financial market stability So, as has happened in the past, the price of Bitcoin.
According to analysts like Willie Wu, the general consensus is that the upward cycle of Bitcoin is in the final stages. However, this does not mean that prices cannot continue to grow before the correction. Wu noted that the institutional flow to Bitcoin continues to be a key factor in rising demand and prices.
For example, Bitget Research analyst Ryan Lee suggests that prices could even go above USD 130,000 towards the end of 2025. Meanwhile, banking entities such as standard chartered estimates will stabilize BTC in 2026 by over $300,000 and $2028 at $400,000 for $2028.
Therefore, it is plausible for Stony Chambers’ company to wait for Bitcoin to experience the final stage of growth in the short term before the market faces a recession.