Bitcoin took a beating this week, and the published research turned decisively bearish as price slid from above $65,000 to a 21-month low under $60,000.
Early in the week, views were split: one long-term bullish thread floated a $1M target by 2036, while technicians were already warning of lower highs and lower lows with no clear floor. By midweek, the bearish camp dominated. Multiple analysts flagged a break of $58,890–$59,062 as opening the door to $37,000, with one technical read pointing to $44,000 next and a monthly bear-flag target as deep as $16,000 — a level last seen in 2022. A recurring concern: forced-selling risk tied to MicroStrategy, with one note citing up to $6B of potential Bitcoin liquidation to shore up preferred shareholders.
Not every voice was negative. One thread argued Bitcoin sits in the "monetary protest" basket and could rally sharply if the Fed proves less hawkish than priced or the dollar rolls over. A cycle-based view still sees a parabolic move above prior highs into 2028–2029 — after a bottom.