On June 2, ChainCatcher reported that renowned Bitcoin analyst and creator of the Stock-to-Flow (S2F) model, PlanB, shared his assessment that the probability of Bitcoin dropping below $61,000 now exceeds 50%, and the same level of likelihood applies to a decline beneath $53,000. This forecast underscores the persistent near-term selling pressure and the lack of strong support at these critical levels.
Echoing the bearish outlook, crypto KOL Gin Pickle highlighted signals from an automated trend indicator, which shows Bitcoin’s 3-day chart has entered a new downtrend. According to him, this marks the start of a fresh wave of selling in the second half of the bear market, with a potential bottom zone between $42,000 and $44,000. He urged investors to prepare for extended weakness.
Adding to the cautious tone, 0xPickleCati, the leading performer on Binance’s real trading profit leaderboard, wrote on his personal channel: “Speak of the devil and he appears. Never try to call a bottom in a bear market. In a few months, you might find there is no bottom.” The string of warnings reflects a deeply risk-averse sentiment across the crypto space as Bitcoin struggles to stabilize.