The most bullish argument you can make from what happened in 2025 is that Bitcoin reached $126K with gargantuan selling pressure from Bitcoin OGs
Yes, there were DATs and ETF inflows but most coins were not bought in the open market
Now you have Trump wanting to stimulate the economy, FED going dovish with 2 further rate cuts in play for 2026
Pair that with how much retail and bitcoin OGs sold, and you have a recipe for an explosive Q1 2026