Bitcoin's Quarterly Low Proves Crucial for Market Outlook, Warns Killa

Renowned trader Killa (@KillaXBT) has shared his thoughts on Bitcoin's market outlook. If the cryptocurrency fails to hold above its quarterly low of $60,037, it may move towards the CME gap at $54,111. This would be a significant drop from current levels.

Killa, who is known for his BTC-focused quantitative trading approach and has over 180,000 followers on Platform X, believes that if Bitcoin holds above its quarterly low, it could rebound to the quarterly open of $68,185. However, if this support level is broken, it may indicate a move towards lower prices.

The next potential support level to the downside for Bitcoin is the July 2024 low of $49,302. This is based on Killa's analysis and market data. In mid-April, he shorted Bitcoin at $74,688, which suggests that he has been bearish on the cryptocurrency in recent months.