While many traders are still expecting one final capitulation, Bitcoin has climbed back above $66K for the first time since mid-June. 👀
The main reason so many remain bearish is simple: previous cycles saw deeper drawdowns. But Bitcoin's corrections have been shrinking with each cycle, making blind comparisons to past markets increasingly unreliable.
🐋 Meanwhile, whales continue placing buy orders between $60K and $48K. That doesn't necessarily mean they're expecting a crash—it may simply reflect a strategy of accumulating on weakness while already holding significant positions.
A new low is still possible, but it would likely require a major catalyst such as a sharp equity sell-off, a severe geopolitical shock, or another unexpected black swan.
For long-term investors, the key takeaway is simple: market bottoms are built through accumulation, not perfect timing.
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