Killa Predicts Bitcoin Bottom at $62K, Dismisses October Drop to $50K

KuCoinFlash

Release Time: 2026/08/29 15:32:44

BTC

$77,078.60-0.13%

Summary

Bitcoin news from August 29, 2026, highlights Killa’s prediction that the bottom of the current cycle may already have been reached. The BTC-focused quantitative trader, with over 200,000 followers on X, dismissed the possibility of a drop to $50,000 in October and noted that the $61,000 level could trigger $20 billion in liquidations. Killa previously accurately predicted the May 2025 bull market peak, shifting from shorting at $74,688 to going long in early June. Traders are also advised to monitor altcoins as market dynamics continue to evolve.

BlockBeats news: On August 29, renowned trader Killa posted tonight that data from multiple Bitcoin bull and bear cycles indicate that bear market depths are gradually becoming shallower, suggesting the bottom of this cycle may have already formed, making the much-anticipated drop to $50,000 in October highly unlikely.

However, Killa also noted that if Bitcoin were to drop 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 positions.

Killa, a quantitative trader focused on BTC, 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: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.