Did Bitcoin Bottom at $60K? Poll Suggests More Downside Ahead
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Bitcoin’s sharp decline to $60,000 earlier this month has sparked intense debate across the crypto market. While some investors believe the worst may be over, a recent community poll suggests that a majority expects further downside before a true bottom is established.
The leading cryptocurrency traded above $126,000 in early October, marking a fresh all-time high during the post-halving rally. However, that momentum reversed quickly. A violent liquidation cascade on October 10 erased billions in leveraged positions and triggered a broader market downturn.
Although Bitcoin initially managed to stay above six figures, it eventually lost the $100,000 level in November and failed to reclaim it. The asset closed 2025 in negative territory — the first post-halving year to end in the red — shaking long-term bullish confidence.
Crypto Community Questions the $60K Bottom
A recent poll conducted by crypto analyst Ali Martinez reveals that most participants do not believe Bitcoin has found its cycle low yet.
Price Prediction: $BTC Market Bottom
— Ali Charts (@alicharts) February 12, 2026
The survey results show that only 22.7% of voters believe $60,000 marked the bottom. Meanwhile, the largest group — 30.4% — predicts a drop toward $38,000. If that scenario unfolds, it would represent another steep correction from current levels near $70,000.
The poll reflects a cautious market sentiment. Despite Bitcoin already falling more than 50% from its October peak, many traders appear unconvinced that capitulation has fully played out.
Is Bearish Sentiment a Bullish Signal?
Interestingly, widespread pessimism can sometimes signal opportunity. Historically, Bitcoin has formed major bottoms when market confidence was deeply shaken. Sharp drawdowns often precede extended recovery phases, particularly after heavy liquidation events.
Still, macroeconomic conditions, liquidity trends, and broader risk appetite remain key variables. If selling pressure continues, technical support near the $60,000 region could be retested. A breakdown below that level may accelerate downside momentum.
For now, Bitcoin remains at a critical crossroads. Whether $60,000 proves to be a long-term bottom — or merely a pause before another leg lower — will likely depend on market structure and investor conviction in the weeks ahead.
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