Trader Killa Says Bitcoin Bear Market Depth Is Shrinking, Sees Little Chance of $50,000 in October

Trader Killa said data from several Bitcoin bull and bear cycles suggests that bear market drawdowns are becoming shallower and that the bottom of the current cycle may already be in place. According to ChainCatcher, Killa said the widely expected scenario of Bitcoin falling to $50,000 in October is now highly unlikely. Killa also said that if Bitcoin drops to $61,000, expected long liquidations could reach $20 billion. He added that market makers may have an incentive and the ability to liquidate long positions and then rebuild positions. Killa is a BTC-focused quantitative trader who previously predicted the peak of this bull market in May 2025 and has more than 200,000 followers on X. He said he shorted Bitcoin at $74,688 in mid-April and turned long on June 5 during a broad market decline.