Bitcoin is currently trading near the $67,000 mark, attempting to stabilize after a week of significant volatility that saw its price pushed down to $64,000. This sharp decline was triggered by a combination of macroeconomic factors, most notably former President Donald Trump's announcement of a proposed 15% global tariff, which spurred market uncertainty. The sell-off was exacerbated by over $1 billion in liquidations across the crypto market.
The recent price action has ignited a vigorous debate among prominent analysts regarding where Bitcoin's ultimate bottom might lie. On one side, analyst Willy Woo has suggested a possible bear market bottom could be established near $45,000, with warnings that a failure of key support levels could see prices fall as low as $30,000.
In contrast, other voices in the industry are more optimistic. Bitwise Chief Investment Officer Matt Hougan and MicroStrategy Executive Chairman Michael Saylor have characterized the recent pullback as a healthy correction. They point to ongoing accumulation by large investors, or "whales," and long-term cyclical trends as foundations for a potential rebound.
Adding a nuanced perspective to the bottom debate, crypto analyst Plan C has presented a theory that diverges from historical patterns. He argues that Bitcoin is unlikely to repeat the 80-90% crashes witnessed in previous bear markets, which in this cycle would imply a devastating drop to the $25,000-$30,000 range. Instead, Plan C forecasts a more moderate 50-60% correction from the cycle's peak, which would place the potential bottom between $50,000 and $63,000. Given that Bitcoin's price recently fell below $63,000, this analysis suggests the bottom may already be in or is very close.
This deviation from the traditional 4-year cycle is attributed by many analysts to the transformative impact of institutional capital entering the market via Spot Bitcoin ETFs, which began trading in early 2024. This new source of demand is seen as a fundamental shift that may have altered historical price patterns. Despite these analyses, overall market sentiment remains fragile, with the Crypto Fear & Greed Index persistently indicating Extreme Fear as bulls struggle to reclaim the $70,000 level.
