Bitcoin’s decline below $70,000 has not shaken two prominent bullish voices, even as the market absorbed heavy long liquidations and a sharp pullback from its all-time high. BTC traded near $68,500 after touching roughly $67,450, with more than $870 million in Bitcoin long positions liquidated over 24 hours. The cryptocurrency is down roughly 9.6% in seven days and sits more than 45% below its October 2025 all-time high.
Stacks co-founder Muneeb Ali said he believes Bitcoin may have already passed its bottom. “I think the bottom for Bitcoin is behind us. We’ve come out of the bear market and are currently experiencing a pullback in the early stages of a bull market,” Ali stated. He argued that negative news is having a weaker effect on BTC price, suggesting that much of the selling pressure may have already been exhausted. Ali said Bitcoin’s market capitalization remains below 10% of gold’s total market value, even though he expected it to reach 20% to 30% by now, implying substantial long-term room for growth.
Ali also pointed to institutional behavior as a reason Bitcoin has lagged gold. He said large financial institutions still treat Bitcoin as a risky technology-style asset rather than a store of value like gold or real estate, causing BTC to move with the Nasdaq during risk-off periods. He highlighted quantum computing and AI-powered cyber threats as key risks over the next two years, while adding that income-generating Bitcoin products, such as those in the Stacks ecosystem, could support future demand. A recently launched program attracted 1,000 BTC from institutions with a 3% yield, he noted.
Analyst Doctor Profit maintained an “insanely bullish” outlook, arguing that sidelined bears have been wrong throughout the cycle. He said he entered spot Bitcoin around $60,000 and notes BTC rallied roughly 40% from those lows before the latest correction. He is holding his spot positions from $60,000 and longs from $80,000. However, the environment has become tougher: U.S. spot Bitcoin ETFs suffered roughly $1.4 billion in withdrawals over five consecutive sessions, and Bitcoin futures open interest dropped nearly 7% in 24 hours. Doctor Profit sees the area around $67,000–$68,000 as the first stabilization zone, with the low $60,000s becoming relevant if that support fails.
