Bitcoin falls below $60k, are retail investors panicking again?

Don’t rush to run, Old Zhang is here to pour cold water on you—whales are quietly accumulating, and this smart money isn’t here to do good.

Just two interesting pieces of news:
First, trader B L says we are still in the standard four-year cycle, with around $53,000 being the key support, don’t keep shouting “this time is different”;

Second, on-chain data confirms that in the past 5 days, whales have withdrawn 11,422 BTC from exchanges, worth 60k dollars, directly transferring to cold wallets. In other words, panic sellers have been picked off by big players, and the $60k-$61,000 range is most likely the bottom before the next jump.

Old Zhang’s view: Don’t be scared by short-term fluctuations; cutting losses at this point is equivalent to giving away chips. The market will either bottom out or rebound directly, but the space for further big drops has already been sealed by whales.

What should retail investors do? Hold steady, buy in batches around $60k, don’t go all in at once.

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