Bitcoin Under $87K: ‘Engineered Collapse’ Masks Accumulation
Bitcoin has dropped below $87,000, marking an eight-month low near $86,500, triggering panic across markets. Market expert Shanaka Anslem labels this downturn an “engineered collapse,” arguing that behind the bearish sentiment, significant accumulation by whales and institutions is underway. He points to 231 new whale wallets created in November and record-high network hash rate as evidence of growing confidence in future Bitcoin price appreciation. Additionally, Anslem notes accelerating stablecoin inflows and $70 billion in ETF infrastructure ready to absorb sell-off pressure. With funding rates turning negative and the Pi Cycle indicator remaining green, on-chain metrics suggest a classic mid-cycle shakeout, similar to the 2018 correction before Bitcoin soared. The fear and greed index sits at 15 (extreme fear), historically a buying opportunity. Anslem projects that post-halving supply shock and rising institutional demand could drive Bitcoin price to $220,000–$320,000 by late 2026, representing a potential 150%–400% rally. While retail investors capitulate, institutional players appear to be quietly accumulating Bitcoin, setting the stage for a bullish rebound despite current market turbulence.
Bullish
Despite the recent dip below $87K, on-chain and market indicators point to a bullish setup. The creation of 231 new whale wallets, record hash rate, accelerating stablecoin inflows and $70 billion in ETF infrastructure signal strong accumulation. Negative funding rates, a green Pi Cycle and mid-cycle shakeout patterns closely mirror the 2018 correction that preceded a major rally. Combined with the post-halving supply shock and expanding institutional demand, these factors suggest a high probability of a sustained rebound, supporting a bullish outlook. In the short term, volatility may persist, but accumulating data favor a price recovery. Over the long term, institutional infrastructure and historical precedents imply potential targets of $220K–$320K by late 2026.