⚠️ BITCOIN MAY STILL DROP BELOW $60K — ON-CHAIN DATA WARNS
Bitcoin’s momentum has cooled fast. After flirting with six figures just days ago, BTC is now struggling to hold the $90K psychological zone, signaling a potential shift in market structure.
Recent price action suggests this wasn’t a simple pullback — but possibly the start of a deeper corrective phase.
📉 Why $60,000 Is Back on the Table
Alphractal CEO Joao Wedson shared a cautionary outlook based on on-chain data — specifically the “Days Spent at a Profit” metric.
🔍 What this metric shows:
It tracks how many days in Bitcoin’s history the price traded above the current level.
• Higher values often appear during bear markets or long consolidations
• It signals how many holders are sitting at higher cost bases
📊 Key data points
• Current reading: ~355 days
• Historical bottoms formed near: ~775 days
This suggests BTC may still be far from a typical bear-market bottom.
⏳ What this could mean
According to Wedson:
• BTC could face an extended drawdown lasting up to 300 days
• A revisit of the $60K region is possible
• This move could trigger major liquidations, especially among:
– Post-ETF entrants
– Late retail buyers
– Leveraged institutional positions
📍 Bitcoin at a glance
• Price: ~$89,900
• Weekly performance: –5%
• Down nearly 30% from ATH ($126,080)
🧠 Bottom line
This doesn’t confirm a crash — but on-chain data suggests downside risk is not finished.
Patience, risk management, and liquidity awareness are critical in this phase.
Markets reward preparation — not hope.
