ChainCatcher report: 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 “drop to $50,000 in October” by missed investors 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. As a quantitative trader focused on BTC, Killa 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.
Prominent Trader: Bitcoin Unlikely to Fall to $50,000 in October; $62,000 Likely Bottom
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Summary
Bitcoin news: Prominent trader Killa says a drop to $50,000 in October is unlikely, with $62,000 likely serving as the bottom. A decline to $61,000 could trigger $20 billion in liquidations, encouraging shorting activity. Killa, a BTC-focused quantitative trader with over 200,000 followers, shifted from shorting at $74,688 in April to going long in June. Altcoins to watch may experience movement if Bitcoin stabilizes.
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