Analyst expects BTC to peak at $140K this year before shifting to a bear run in 2026

Speaking to Cointelegraph, a crypto analyst forecasts that Bitcoin (BTC) is likely to rise to $140,000 this year before shifting to a bear run next year. John Glover, Chief Investment Officer (CIO) of crypto lending platform Ledn, also stated that while BTC currently lies in summer doldrums, it would usher in rallies in the near future based on the Elliott wave theory. As per the Bitcoin/USD daily chart on TradingView, BTC is currently moving in the impulse wave (iii) of the extended impulse wave 5, hinting at a high probability for the flagship token to tap a $130,000 high within the next few weeks, followed by a decline to $110,000 in September, finishing the retrace wave (iv). Subsequently, the final impulse wave (v) of wave 5 will kick off, peaking at $140,000. Despite this, Glover believes BTC will enter a bear market in 2026.