Bitcoin price analysis: What's next as BTC falls through $70,000
Industry veterans offer perspectives on Bitcoin's sharp decline below $70,000, emphasizing long-term conviction despite current market pain.Summary
As Bitcoin tumbled below $70,000, falling 45% in under four months from its all-time high of $126,000, industry veterans shared their views on the market downturn, which was exacerbated by stalled regulatory clarity and shifting investor interest toward AI and metals.
Long-term believers remain highly optimistic. Balaji Srinivasan stated he is "more bullish on crypto" because the collapsing rules-based order necessitates a rising code-based order, asserting that short-term price action is irrelevant. Samson Mow agreed that the drawdown feels unfair but believes absolute scarcity will eventually limit downside.
Market analysts offered more cautious takes. Bob Loukas noted that while every cycle feels similar, current dips might not be buying opportunities, advising those paralyzed by losses to sell non-spot assets, though he maintains conviction in spot Bitcoin. Jim Bianco criticized the reliance on traditional finance (TradFi) adoption narratives, arguing that Bitcoin's next major leg up requires building an alternative financial system, not seeking approval from figures like Larry Fink or Donald Trump.
(Source：CoinDesk)