Odaily Planet Daily News Analyst James Check said that $65,000 is the cost basis for ordinary investors and the real capitulation zone of Bitcoin at this stage. He pointed out that the $1 trillion market value of Bitcoin (priced at about $50,000) should be a strong support area.
James Check said that the "shock consolidation" period in 2024 lasted for several months, and Bitcoin's trading price fluctuated between $50,000 and $70,000. Bitcoin is expected to fall sharply from the $65,000 area, while the $49,000 to $50,000 range will receive strong support. These prices represent the launch of ETFs in 2024 and Bitcoin's $1 trillion market value. He said that unless there is a global recession, Bitcoin is unlikely to fall to a low of $40,000. (CoinDesk)