 ▲ Bitcoin (BTC) |
As Bitcoin (BTC) has plunged to nearly half of its all-time high, spreading extreme fear across the market, analysts suggest that the current $60,000 range may one day be remembered as a once-in-a-lifetime buying opportunity.
According to crypto media outlet U.Today on February 23 (local time), virtual asset analyst Michaël van de Poppe stated that although Bitcoin is struggling in the mid-$60,000 range, it could later be seen as a “dream buying price” that investors will regret missing. Bitcoin is currently trading at around $65,764, down approximately 48% from its all-time high of $126,080 recorded in October 2025. Over the past month, it has plunged 26.4%, with selling pressure continuing to mount.
Van de Poppe interpreted the extreme fear dominating the market as a strong signal of a potential rebound. Google Trends data shows that negative searches such as “Bitcoin is dead” or “Bitcoin $0” have reached their highest levels since 2010. Historically, such peaks in pessimism have coincided with price bottoms. He emphasized that when the public exits the market, it often marks the most favorable entry point for long-term investors.
The Bitcoin Fear & Greed Index also fell to a historic low of 5 out of 100. Crypto investor Marco Bühler added, “The current reading is a strong buy signal indicating that Bitcoin is technically extremely oversold.” While the majority of market participants are panic-selling, this environment may offer optimal conditions for smart money to increase their positions.
However, bearish warnings remain strong. Prominent Bitcoin skeptic Peter Schiff cautioned that if Bitcoin fails to hold the $50,000 support level, it could plunge further to $20,000. Pointing to Bitcoin’s chronic volatility, he warned that the current downturn could mark the beginning of a massive collapse of up to 84%.
Bitcoin stands at a critical crossroads where optimistic bottom-call theories clash head-on with predictions of a deeper crash. Whether the current fear will ultimately yield rewards, as van de Poppe suggests, or whether a deeper downturn will unfold as Schiff warns, may depend on whether key support levels hold this week. Investors must closely monitor shifts in positions by major capital players and respond cautiously amid severely weakened market sentiment.
Disclaimer: This article is for investment reference only, and we are not responsible for any losses incurred based on it. The information provided should be interpreted solely for informational purposes.