James E. Thorne: Bitcoin sell-off triggered by leveraged liquidation; recommends buying on panic.

Wellington-Altus strategist James E. Thorne said the current Bitcoin sell-off was triggered by leveraged position clearing rather than a deterioration in fundamentals, and suggested buying on the dip. The head and shoulders bottom pattern for Bitcoin remains intact, with the left shoulder around $59,000, the head around $57,000, and the right shoulder forming. Bitcoin needs to recover to $73,000 and break through $87,000 to confirm the pattern. If confirmed, the mid-2027 target is $117,000, and the year-end target is $150,000 to $170,000. If Bitcoin falls below $57,000, the above predictions are invalidated.