Bitcoin Holds $62K as Traders Watch $65.5K Breakout
Technical levels, rather than the bounce alone, are setting BTC's next directional signal: $65,500 is resistance and $61,900 is support.
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Technical levels, rather than the bounce alone, are setting BTC's next directional signal: $65,500 is resistance and $61,900 is support.
The veteran trader frames the call as cycle-consistent rather than a fresh forecast, betting the pattern that has held since the 2018 bottom repeats once more before the next leg up.
The Fundstrat chair sketched a three-phase path past 7,700 and through a 10–15% pullback before a year-end push, framing AI as the intact narrative underwriting the call.
The model builds a contrarian bull case on a 28% bounce off the June $62 low and a 4B-transaction month that price is still ignoring, while a narrower bear case caps the floor near $73.
The 75x jump from 2013 to 2017 has already decayed to 1.8x from 2021 to 2025, and the same gravitational drag suggests the next halving peak lands well below the calls from Brandt and Bernstein.
The bitcoin revision does the heavy lifting: Cowen's prior $140K year-end call was already aggressive, and a $40K haircut to $100K flows straight into the proxy that anchors its valuation of…
Crowdsourced prediction markets are pricing a sub-$55K Bitcoin print as a near-base-case outcome, a level roughly 40% below current spot and one that would unwind the post-ETF rally thesis.
A widely followed cycle analyst frames two downside zones based on prior retracement bands, arguing future drawdowns will be shallower than the 20K-plus drops of past bull cycles.