Bitcoin Decline May Take Until 2028 to Reclaim $93,500
Bitcoin (BTC) liquidated billions of dollars going into Friday as BTC price action set bearish records. Key points: Bitcoin liquidates $2.6 billion as it sees its first red $10,000 daily candle ever. BTC price action…
Bitcoin plunged sharply during Thursday and Friday trading, forcing large-scale liquidations and setting several bearish records. Over a 24-hour window CoinGlass data shows roughly $2.6 billion in crypto positions were liquidated, a level some market participants compared to the March 2020 COVID shock and the late-2022 FTX collapse.
BTC/USD slid below $60,000 for the first time since October 2024, dipping to about $59,930 before finding some consolidation. The move produced Bitcoin’s first-ever daily red candle that exceeded $10,000 in nominal loss, and trading volumes spiked—some traders called it the busiest BTC day since August 2024. In percentage terms, Thursday’s single-day decline was the steepest since the FTX-driven sell-off that helped establish the 2022 bear-market low near $15,600.
U.S. spot Bitcoin ETFs showed meaningful net outflows amid the turmoil. Farside Investors reported about $434 million in net ETF outflows on Thursday, a withdrawal pattern that amplified price pressure as investors who had not previously experienced rapid selling began to exit positions.
Looking ahead, analyst Rekt Capital applied a price-cycle model with moving-average indicators and outlined a drawn-out bear scenario: 2026 as the primary bear year, 2027 as the bottoming period, and 2028 as the likely year of trend reversal when Bitcoin could plausibly retake and hold the $93,500 level.
Disclaimer: This rewrite is informational and not investment advice. All trading and investing involve risk. Readers should perform their own research and consider consulting a licensed financial advisor. Sources referenced include CoinGlass, Farside Investors reporting, and public commentary from analyst Rekt Capital.
