Analyst Says $65,000 for Bitcoin: This Level Could Be the Real Bottom! - Coin Newsletter

According to James Check, Bitcoin's fall to the "real market average" of $65,000 could be the main stress point for investors. The $50K zone could be strong long-term support.**

Where is the bottom point for Bitcoin (BTC)? Analyst James Check, who seeks an answer to this question, says that short-term recoveries may not be permanent, and that the real bottom can be reached with a capitulation of $65,000. This level is seen as the average cost of active investors.

Speaking to the TFTC podcast, Check noted that $65,000 is Bitcoin's "true market average," at which point many investors, even long-term holders, could be at a loss. According to Check's analysis, this could trigger a process of capitulation in which psychological pressure and sales increase in the market.

This level is also very close to MicroStrategy CEO Michael Saylor's average Bitcoin purchase cost of $67,500. Therefore, there may be a threshold at which even institutional investors may start to revise their positions.

James Check emphasized that the $50,000 level could provide a strong long-term support after possible declines. This price band coincides with the launch of spot Bitcoin ETFs in 2024 and points to a market cap of around $1 trillion.

The analyst points to the "chopsolidation" period that BTC has created throughout 2024, going back and forth in the $50-$70K range. This volatile period has created a solid support base for Bitcoin, according to Check. However, a pullback to $40,000 seems unlikely barring a global recession.