Bitcoin Holds At $59,000, But 75% Drawdown From The Top Is Still In Play, Wall Street Exec Says

Benzinga_recent_news06-29

Fairlead Strategies founder Katie Stockton says Bitcoin (CRYPTO: BTC) remains attractive from a "very, very long-term" perspective, even as the asset repeatedly tests a key support zone. In a CNBC ...

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While she does not rely on BTCs traditional four-year cycle, Stockton cautions that a break below current support could open the door to the low $40,000s.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BFJL":"FT Vest Bitcoin Strategy Floor15 ETF - July","EZBC":"比特币ETF-Franklin","BITB":"比特币ETF-Bitwise","FBTC":"比特币ETF-Fidelity","DEFI":"比特币期货ETF-Hashdex","DFII":"FT Cboe Vest Bitcoin Strategy & Target Income ETF","CBXO":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - October","CBXY":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - July","BITI":"1倍做空比特币期货ETF-Proshares","BTCC":"Grayscale Bitcoin Covered Call ETF","CBOA":"Calamos Bitcoin Structured Alt Protection ETF - April","XBTY":"GraniteShares YieldBOOST Bitcoin ETF","BTCW":"比特币ETF-Wisdom Tree","CBOJ":"Calamos Bitcoin Structured Alt Protection ETF - January","BTC":"Grayscale Bitcoin Mini Trust","CBTA":"Calamos Bitcoin 80 Series Structured Alt Protection ETF – April","QBF":"Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly","SBIT":"2倍做空比特币期货ETF-Proshares","BITO":"比特币期货ETF-ProShares","HODL":"比特币ETF-VanEck","BFAP":"FT Vest Bitcoin Strategy Floor15 ETF - April","BCCC":"Global X Bitcoin Covered Call ETF","CBOO":"Calamos Bitcoin Structured Alt Protection ETF - October","BPI":"Grayscale Bitcoin Premium Income ETF","CBTO":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - October","GBTC":"比特币ETF-Grayscale","BTCO":"比特币ETF-Invesco Galaxy","BAGY":"Amplify Bitcoin Max Income Covered Call ETF","BITU":"2倍做多比特币期货ETF-Proshares","CBTY":"Calamos Bitcoin 80 Series Structured Alt Protection ETF - July","ARKB":"比特币ETF-21Shares","CBXA":"Calamos Bitcoin 90 Series Structured Alt Protection ETF – April","CBOY":"Calamos Bitcoin Structured Alt Protection ETF - July","CBXJ":"Calamos Bitcoin 90 Series Structured Alt Protection ETF - January","BITY":"Amplify Bitcoin 2% Monthly Option Income ETF"},"translate_title":"华尔街高管表示，比特币股价维持在59,000美元，但仍有75%的回撤","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CBTY":0.6,"BITI":0.6,"DEFI":0.6,"BTCC":0.6,"CBOJ":0.6,"ARKB":0.6,"QBF":0.6,"CBXA":0.6,"CBXY":0.6,"HODL":0.6,"BFJL":0.6,"GBTC":0.6,"BTCO":0.6,"CBOY":0.6,"BAGY":0.6,"CBXJ":0.6,"SBIT":0.6,"CBOO":0.6,"BTC":0.6,"XBTY":0.6,"DFII":0.6,"BITU":0.6,"BFAP":0.6,"CBTA":0.6,"EZBC":0.6,"BCCC":0.6,"BPI":0.6,"BTCW":0.6,"CBXO":0.6,"CBTO":0.6,"CBOA":0.6,"FBTC":0.6,"BITY":0.6,"BITB":0.6,"BITO":0.6},"content_text":"Fairlead Strategies founder Katie Stockton says Bitcoin (CRYPTO: BTC) remains attractive from a \"very, very long-term\" perspective, even as the asset repeatedly tests a key support zone.\nIn a CNBC interview on June 26, Stockton outlined Bitcoin’s $59,000 to $60,000 range remains an important technical support area after multiple retests.\nShe noted that Bitcoin recently failed near its 200-day moving average, which acted as resistance, and has since trended lower. It is in a long-term oversold condition that has persisted long enough to potentially influence the chart.\n\"Knowing the volatility, it’s down about 30% after failing right at that 200-day moving average,\" Stockton said.\n\"We’re looking for stabilization,\" she added, adding that ideally Bitcoin holds the current range because it lines up with a key Fibonacci retracement level.\nIf Bitcoin loses the current support zone, Stockton predicts the next major support could sit in the low $40,000s.\n\"I think we can still see those 75% to 80% drawdowns,\" stated Stockton, adding that volatility can create opportunity for traders using trend-following signals.\nStill, Stockton pushed back against the idea that Bitcoin’s institutional adoption and spot ETFs eliminate the possibility of large drawdowns.\nPrice Action: Over the past week, BTC prices dropped around 8% as sentiment continues to remain in the “extreme fear” zone amid heavy ETF outflows.\nStockton stressed that she is not focused on Bitcoin’s four-year cycle framework, arguing there are not enough historical cycles to rely on them with confidence.\nInstead, she is watching for downside exhaustion and a convincing shift in momentum.\n\"I’m a Bitcoin bull from a very, very long-term perspective,\" Stockton said. \nShe added that buying into weakness is psychologically difficult but often proves to be the right move once momentum begins to stabilize.\nThe interview noted that investors often want to buy BTC when it is rising sharply but hesitate when prices fall.\nStockton called that \"market psychology,\" saying she would prefer to see two to three weeks of stabilization near current levels before feeling more confident that support is holding.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2647305105","isCrawlerRequest":true}