According to ChainCatcher, well-known Bitcoin market analyst PlanB recently stated that there is over a 50% probability of Bitcoin breaking below $61,000. He further noted that the likelihood of it falling below $53,000 is also more than half, indicating that the market may continue to face downward pressure in the near term.
Crypto KOL Qinjiu Pike issued a warning based on an automated trend indicator, saying that the Bitcoin 3-day chart has entered a new downtrend, marking the start of another leg down in the latter half of the bear market. He placed the bear market bottom target range at $42,000 to $44,000.
0xPickleCati, the number one ranked trader on Binance’s full-profit leaderboard, also commented on his personal channel, using the phrase “speak of the devil.” He advised investors not to try to guess the bottom in a bear market, as in a few months there might be no clear bottom at all.