Odaily Planet Daily reports: The whale "Set Ten Big Goals First" posted on X stating that after closing their short position, they quickly re-established a long position because their medium- to long-term outlook remains unchanged. He believes the key breakout level of the previous bull market was around $60,000, and currently, the mainstream mining cost of Bitcoin is concentrated in the $50,000 to $60,000 range. Last month, Bitcoin briefly dipped to $58,000 before swiftly rebounding, validating the strong support at this level. He argues that, in the absence of systemic risk or major fundamental changes, the risk-reward ratio for further shorting at current levels is unfavorable. After Bitcoin completes consolidation and turnover within the $58,000 to $63,000 range, recovers, and re-establishes support near $66,000, the market will be positioned for further upside movement, with the possibility of a strong bullish candle pushing Bitcoin above $72,000.
It also noted that current valuations in the U.S. stock market, particularly in AI-related sectors, are relatively high, and future volatility may increase. Additionally, the correlation between Bitcoin and the U.S. stock market has significantly decreased compared to previous cycles. As institutional funds continue to flow in and Bitcoin’s asset characteristics become increasingly reinforced, Bitcoin is gradually forging its own independent price trajectory.
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