Jan3 CEO Samson Mow stated that Bitcoin has formed its local market bottom, with strong buying demand around the $58,000 level absorbing heavy selling pressure and preventing a deeper decline. In his market outlook, Mow rejected traditional cycle models, noting that Bitcoin reached a new all-time high 37 days before the latest halving—a deviation that disrupted historical patterns and made predictions of months-long capitulation obsolete.
Mow questioned over-reliance on technical analysis, arguing that chart patterns alone cannot explain the latest price action. Instead, he credited liquidity, specifically a dense concentration of limit buy orders near $58,000, with providing stronger evidence of investor conviction than conventional indicators. He suggested traders waiting for substantially lower prices may have missed their opportunity.
Supporting his confidence, Mow pointed to Tether's Q1 2026 financial results: a net profit of $1.04 billion and total assets of $191.77 billion. He argued that these figures weaken claims that coordinated fear campaigns can destabilize major cryptocurrency firms, and that strong institutional performance reflects continued confidence in Bitcoin's long-term prospects.
