Bitcoin sees record $10K drop as model warns $93.5K may not return until 2028 ⚠️
Bitcoin (BTC) liquidated billions going into Friday after a historic sell-off, marking the largest daily dollar decline in its history.
After bouncing from $59,930! Its first trip below $60K since October 2024. BTC/USD consolidated under sustained selling pressure.
Data from CoinGlass shows $2.6 billion in crypto positions wiped out in 24 hours, surpassing both the COVID-19 crash in March 2020 and the FTX collapse in late 2022. 📉
Thursday’s daily candle also set a historical bear-market record in percentage terms, rivaling the FTX debacle that sparked BTC’s $15,600 low.
Institutional investors weren’t spared. ETF holders saw net outflows of $434 million, according to UK investment firm Farside Investors.
BTC/USD also hit a new unenviable milestone — falling more than $10,000 in a single day.
This was the highest volume day for Bitcoin since August 2024 “one for the history books.” 🔥
Bearish outlook ahead
Crypto analyst Rekt Capital warns it may be 2028 before BTC fully rebounds. Using BTC’s price cycle model, he forecasts:
2026: Classic bear market year
2027: Bottoming out year
2028: Trend reversal year, where $93,500 could finally return
Another post from Rekt Capital highlights “bearish acceleration” for BTC/USD, echoing the 2022 bear market.
Bottom line:
Bitcoin just recorded a historic sell-off with unprecedented liquidation levels. Analysts warn bulls may have to wait several years for a true recovery. Until then, BTC faces a tense bear-market environment. ⏳