A lot of people treat 59000 as the bottom of Bitcoin, but I, A Yue, have never thought so.

The real bottom never needs to be ground back and forth or tested repeatedly; it is quietly built when the market is not paying attention and everyone has lost confidence. It won't get stuck at a level everyone is watching, constantly probing and pulling back.
Now BTC's current price is about 61673, and the intraday low even dipped to 59060, which is enough to show that 59000 is at most the first wave of support for capital entry, far from a confirmed bottom.
Let me break down the actual support levels below:
57500 is the concentrated leverage liquidation zone; further down, 55000 to 52000 is the institutional holding cost and the public's psychological bottom; deeper still, 50000-52000 corresponds to the historical deep bear market retracement range of 66%-77%.
I reminded everyone earlier this month that once BTC breaks below the 60,000 mark, the market focus will be firmly fixed on 60,000, as well as the nearby 200-week moving average at 61778. If the price fails to reclaim this range for a sustained period, all current rebounds are just brief dead cat bounces, not a trend reversal.
My view has always been straightforward: 59000 is not an unbreakable iron bottom, just a temporary support tray after a round of washing out.
To confirm stability here, it must at least stand firmly above 60,000 first, then gradually reclaim the 61700 to 62000 range. Otherwise, every small rebound is just an opportunity for trapped positions above to exit.
Looking at the news, there is no bullish catalyst for now. The Fed has recently shown a clear hawkish stance, with upward revisions to core PCE data and expectations of further rate hikes. The overall liquidity environment continues to suppress risk assets like crypto.
In short, we can anticipate a bottom mentally, but the market trend will not follow everyone's expectations.
For the upcoming trend, I lean towards two scenarios: first, a back-and-forth tug-of-war oscillating between 59000 and 60000, and if it can successfully hold, a gradual recovery begins;
If it cannot hold, every small rebound is an opportunity for shorting at highs.
The real bottom is never shouted out by everyone; it is actually walked out by the market. #BTC下探60000美元关键关口 $BTC ‌