Killa, a well-known quantitative trader focused on Bitcoin, said in a post on X on Aug. 29 that bear-market depth has been gradually shallowing across several bull-bear cycles, and the bottom of the current cycle has likely formed around $62,000. In his view, sidelined investors expecting Bitcoin to fall to $50,000 in October are unlikely to see that scenario. He did, however, warn that a decline to $61,000 would put expected long-position liquidations at as much as $20 billion. Market makers may have both the motive and the opportunity to clear long orders before rebuilding positions. Killa, who has more than 200,000 followers on X and specializes in BTC, called the top of the current bull market in May 2025. He shorted Bitcoin at $74,688 in mid-April and switched to long on June 5 during a broad market selloff. His latest remarks tie a possible cycle bottom to lingering liquidation risk below $62,000.
BlockBeats reported on Aug. 29 that Killa, a well-known quantitative trader focused on Bitcoin, said on X that data from several BTC bull-bear cycles points to a gradually shallowing bear market. Based on that data, he believes the bottom of the current cycle may already be in place. He called the possibility of Bitcoin falling to $50,000 in October 'almost impossible,' a scenario some investors who missed the rally are still waiting on.
Killa also warned about a specific downside risk. If Bitcoin drops to $61,000, the expected value of long-position liquidations could reach $20 billion, he said. Market makers have both the incentive and the possibility of clearing long positions before rebuilding, which means the liquidation scenario cannot be ruled out.
Killa is a quantitative trader who focuses on BTC and has more than 200,000 followers on X. He predicted the top of the current bull market in May 2025. In mid-April, he shorted Bitcoin at $74,688, then turned long on June 5 during the broad market decline.
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