Analyst: Bitcoin's Current "Capitulation Zone" is $65,000

Analyst James Check stated that $65,000 is the cost basis for regular investors and the true capitulation zone for Bitcoin at this stage. He noted that a $1 trillion market cap for Bitcoin (approximately $50,000 in price) should be a strong support area.
James Check mentioned that the "volatile consolidation" period in 2024 lasted for several months, with Bitcoin trading between $50,000 and $70,000. It is expected that Bitcoin will sharply drop from the $65,000 region, while the $49,000 to $50,000 range will see strong support. These prices represent the launch of ETFs in 2024 and a $1 trillion market cap for Bitcoin. He stated that unless there is a global economic recession, it is unlikely that Bitcoin will fall to the low of $40,000. (CoinDesk)