The market consensus around BTC's $60k level is indeed strong.

Short positions are being closed in large numbers here.
Longs are also entering to buy the dip simultaneously.
A temporary balance has formed between longs and shorts at this level.
But if this bear market bottoms at $60k,
there will be little room for operation in the next cycle.
This price level holds no appeal for large capital.
Institutions like MicroStrategy only buy but do not push prices up.
Essentially, they are defending near $60k to prevent a deep drop,
yet they lack the motivation to drive prices higher.
Under such conditions, the market can only consolidate sideways for an extended period,
creating an illusion of a bottom for the market.
Other institutions will not enter if they see this,
and eventually, the entire crypto space will become stagnant, losing market vitality.
My personal judgment is that the reasonable bottom range for this bear market is
between $40k and $50k.
If the bear market is severe enough to dip to around $30k,
or even briefly break below $30k, that would be the healthiest scenario.
After fully flushing out weak hands,
the next bull market can then launch a spectacular,
blockchain-level mega rally. #BTC下探60000美元关键关口 #