Prominent Trader Killa: Bitcoin Dropping to $50,000 in October Is Highly Unlikely, $62,000 Has Become a Strong Support

BlockBeats News, August 29th - Renowned trader Killa stated in a post tonight that the data from Bitcoin's several bull and bear cycles indicates that the depth of the bear market is gradually decreasing, suggesting that the bottom of this cycle may have already formed, making the highly anticipated "unlikely to drop to $50,000 in October" scenario for some bears.

However, Killa also pointed out that if Bitcoin were to drop to $61,000, the expected value of long liquidations would reach as high as $20 billion. Market makers have the motivation and possibility to liquidate long positions and then reposition.

As a quant trader focusing on BTC, Killa predicted the peak of this bull market in May 2025 and has over 200,000 followers on Platform X. In mid-April, he shorted Bitcoin at $74,688 and switched to a long position during the market-wide downturn on June 5th.