Prominent market analysts are predicting that Bitcoin's current correction may find a bottom around the $60,000 mark. Investor Bill Miller IV has identified $60,000 as a critical stabilization level where "weak hands" are finally shaken out. He points to two key reasons: the cash production cost of mining new coins and the point where the percentage of supply in loss exceeds the percentage in profit, which has historically signaled market bottoms.
Miller's analysis suggests that if the market price drops below the cost to produce the asset, miners might be forced to shut down rigs or hoard coins, creating supply-side pressure. Notably, JPMorgan recently estimated Bitcoin's production cost at $87,000, significantly higher than Miller's $60,000 estimate. Miller clarified that his figure excludes depreciation costs from ASIC hardware purchases.
Russian market analysts from Cifra Markets, including leading analyst Alexander Kraiko, have presented three scenarios for Bitcoin's price trajectory over the next six months. The first model, based on the 2019 pattern, suggests the market is already close to lows in the $67,000 – $73,000 range. The second, a worst-case scenario similar to 2022, could see Bitcoin fall to $35,000 – $40,000, although current conditions differ significantly as stock indices remain near all-time highs. The third model values Bitcoin against gold, with a support zone around 13 ounces of gold per BTC, which aligns with the first model's timeframe.
Other Russian experts provided similar estimates. Independent consultant Roman Nekrasov identified support levels at $68,000 – $69,000 and $65,000 – $67,000, with a potential bottom at $63,000. Cryptorg analyst Dmitry Savintsev sees support between $65,500 and $69,000. A more pessimistic view comes from Dmitry Tselischev of Rikom-Trust, who believes the decline could stop at $55,000 to $60,000, a zone of historically high institutional demand.
Tselischev argues the current dynamics are driven more by the "global liquidity cycle and investors' shift to risk-off mode" than crypto-specific problems. He notes this correction has challenged Bitcoin's perception as "digital gold," strengthening its correlation with growth stocks and framing it as a speculative asset.
Technical indicators also suggest a bottom may be near. The 3-day Relative Strength Index (RSI) is in extremely oversold territory, a condition that has marked the end of previous bear markets, including the 2018 crash bottom near $3,200. If history repeats, the bottom may either be in or occur within roughly 100 days.
Bitcoin has dropped below $70,000, hitting its lowest level since November 2024, and has fallen more than 20% since the beginning of the year, losing over 40% of its value since the October 2025 all-time high above $125,000.
