ME News reports that on August 29 (UTC+8), renowned trader Killa posted tonight that data from multiple Bitcoin bull and bear cycles indicates that bear market depths have been gradually shrinking, suggesting the bottom of this cycle may already have formed—and that the much-anticipated drop to $50,000 in October is 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 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 market 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. (Source: BlockBeats)
Killa Predicts Bitcoin Bottom at $62K, Dismisses $50K Drop in October
KuCoinFlashShare
Summary
Bitcoin news: Killa predicts the cycle bottom at $62,000, dismissing a potential $50,000 drop in October. Historical data shows bear market declines are becoming milder. A $61,000 drop could trigger $20 billion in long liquidations, potentially shifting market maker positions. The BTC-focused quantitative analyst, known for accurately predicting the 2025 bull market peak, has over 200,000 followers on X. Traders are also monitoring altcoins to watch as Bitcoin potentially stabilizes.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.