Analyst Says Bitcoin’s 60,000 Dollar Crash Could Mark A 16-Year Cyclical Peak

Crypto analyst Tony Severino argues that Bitcoin may have formed not just a yearly high but a 16-year cyclical peak, as BTC recently plunged to 60,000 dollars before rebounding toward 70,000 dollars. He points to bearish signals on the long-term chart, while other market figures debate whether the move signals a deeper bear market or a temporary shakeout. At the same time, Arthur Hayes links the sharp drop to BlackRock’s IBIT ETF hedging activity, and some researchers suggest the 60,000 dollar area could again serve as a long-term support zone.