Huo Xing Finance reports that on August 29, renowned trader Killa posted tonight, stating that data from multiple Bitcoin bull and bear cycles indicates that the depth of bear markets is gradually diminishing, and the bottom of this cycle may have already formed—making the much-anticipated scenario of Bitcoin dropping to $50,000 in October highly unlikely. However, Killa also noted that if Bitcoin were to decline to $61,000, the expected liquidation value of long positions could reach $20 billion. Market makers have both the incentive and possibility to liquidate long positions and then re-establish them. Killa, a quantitative trader focused on BTC, correctly predicted the peak of this bull cycle in May 2025 and has over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 and switched to a long position during the broad market decline on June 5.
Killa Predicts Bitcoin Bottom at $62,000, Dismisses October Drop to $50,000
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Summary
On August 29, 2026, Killa, a leading BTC-focused trader with over 200,000 followers, stated that the depth of Bitcoin’s bear market is diminishing and that the bottom of the current cycle may already have been reached. He dismissed the possibility of a $50,000 drop in October and warned that a price level of $61,000 could trigger $20 billion in liquidations. Killa previously accurately predicted the May 2025 bull market peak and switched from shorting to going long. His strategy demonstrates a strong risk-to-reward profile and aligns with the principles of value investing in cryptocurrency.
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