[Renowned Trader Killa: Bitcoin Dropping to $50,000 in October is Nearly Impossible, $62,000 is Likely the Cycle Bottom] BlockBeats News, August 29 – Renowned trader Killa posted tonight, stating that data from several bull and bear cycles of Bitcoin indicates that the depth of bear markets is gradually decreasing, and the bottom of this cycle may already have formed. The expectation of some sidelined investors for Bitcoin to 'drop to $50,000 in October is nearly impossible.' However, Killa also pointed out that if Bitcoin were to drop to $61,000, the expected liquidation value of long positions could reach as high as $20 billion. Market makers may have the motivation and possibility to liquidate long positions and rebuild their positions. As a quantitative trader specializing in BTC, Killa had previously predicted the peak of this bull market in May 2025 and has over 200,000 followers on the X platform. In mid-April, Killa shorted Bitcoin at $74,688 and switched to long positions during the market-wide downturn on June 5. [Original Link]