Падение биткоина: новый взгляд на возможности для инвесторов Translation: Headline: Bitcoins Decline: A Fresh Perspective on Opportunities for Investors

The decline of Bitcoin below $70,000 is interpreted quite differently by long-time holders and new investors. The former feel uncertainty, while the latter see it as an opportunity, stated Bitwise CEO Hunter Horsley in an interview with CNBC.

According to the executive, institutional players in the current climate are now perceiving prices they believed they had permanently missed out on.

Horsley acknowledged that the recent downturn in the cryptocurrency market occurred at an unusual time, given the efforts to clarify regulations and the increasing interest from major players.

Currently, Bitcoin is in a bearish market and is «subject to the influences» of other macro assets, as investors «sell everything that has liquidity,» the CEO noted.

Despite this, demand for the leading cryptocurrency remains strong. Horsley indicated that during the decline below $77,000, Bitwise clients directed a net $100 million into crypto instruments.

«The volumes are very large, with both sellers and buyers,» he added.

CryptoQuant analysts pointed out that digital gold is trading about 50% below its all-time high.

Experts have suggested a potential deeper drop (between 70-80% from the price peak). However, the main risk in the current scenario lies in the timing of capitulation rather than the asset price, the company clarified.

«It’s important not just how low Bitcoin will fall, but how long it will stay at those levels,» stressed CryptoQuant.

Michael van de Poppe, founder of MN Trading, remarked that the current ratio of profitable to loss-making supply also signals the end of the bear market.

According to his analysis, this metric has reached levels seen before the conclusions of prolonged corrections in 2018 and 2022.

«I don’t think we will see further declines. A slight consolidation is quite likely, but the market will find a bottom at higher levels. Smart people are buying now. Foolish ones are selling,» van de Poppe concluded.

Additionally, Bullish CEO Tom Farley anticipated an increase in merger activity within the crypto industry.