In accordance with NewsBTC, Placeholder VC’s Chris Burniske believes Bitcoin is still in a mellow bear market and may test levels near $56,000 before long-term capital steps in. Burniske argues that the current pessimism in the crypto market creates favorable risk-reward for long-term, high-conviction positions in distressed cryptoassets. He reiterated his earlier view that Bitcoin only becomes interesting below $75,000 and highlighted the 200-week moving average (~$56K) as a potential target. Burniske also noted that the broader crypto repricing is a necessary correction, and while most assets may go to zero, a few could be oversold. He emphasized patience, suggesting the market may not yet be ready for aggressive deployment.
Burniske Predicts Bitcoin Could Test $56,000 Level in 2026
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