The Bitcoin price has been riding a rough spell, bobbing about the old mental peg near 90,000 dollars, like a stubborn mule in a river rush. It looked as if it might tip back into six figures just yesterday, but the wind has slipped from its sails and the bull is taking a nap in the shade.
All told, theseigoing struggles settle the questions about relief rallies and settle into the bear’s new constitution. Yet the latest on-chain reckonin’ suggests the Bitcoin blues could deepen before they cheer up.
Why Mr. Wedson Says BTC Might Still Slip to $60,000
On that fabled X platform, Joao Wedson, chief and founder of Alphractal, says the price could still fall below the $60,000 mark. His sober forecast comes from tallying the days Bitcoin has traded higher than today.
According to Wedson, there have been 355 days when the price traded above where it stands today. This here “Days Spent at a Profit” metric tracks how much price action has occurred above the current level in Bitcoin’s long and winding history.
In plain terms, it tells you how many days folks have ridden the price with a profit above today. Historically, a rise in those profit days tends to show up during bear cycles or long stretches of sideways drift, suggesting different folks are holding BTC at prices higher than their own cost bases.
As Wedson notes, the “Days Spent at a Profit” metric crept to about 775 days as the price neared a bottom. So, with 355 days currently on the board, the flagship cryptocurrency is still a comfortable distance from the extreme readings that typically flourish at bear-market bottoms.
In the end, this line of thinking implies Bitcoin could still endure a drawn-out slide over the next 300 days. The almanac of Alphractal suggests BTC might revisit $60,000, potentially setting off a cascade of liquidations among both the everyday folks and the big players who waltzed into the market after the ETF was the flavor of the month.
Bitcoin Price At A Glance
As things stand, BTC sits around $89,900, with not much move in the last 24 hours. The market monarch is down more than 5% on the week and roughly 30% shy of its all-time high of $126,080.
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2026-01-24 14:56