Joe Carlasare, commercial litigator, Bitcoin advocate and author of Unconfiscatable, said Bitcoin’s recent dip below $60,000 lasted only about 72 hours, a brief window he sees as strong evidence that sellers have largely disappeared from the market at lower price levels.
Why the Brief Dip Below $60K Matters
Carlasare said the speed of that rebound points to a shrinking pool of sellers willing to part with coins at depressed prices, leaving mostly long-term holders unwilling to sell at any price near the recent lows.
“There was a lack of sellers, that you had just the diamond-handed folks at the bottom,” Carlasare said. “They were never going to sell.”
He argued that dynamic is pushing Bitcoin’s effective price floor progressively higher, and predicted a coming stretch where investors find it increasingly difficult to sell below $100,000. Once that psychological level becomes firmly established as a floor, Carlasare said, every multiple above it, $200,000, $300,000, $400,000, $500,000, starts to look comparatively cheap by extension.
Why This Bear Market Was Milder Than Past Cycles
He connected the muted pullback to the idea that Bitcoin never became “unreasonably stretched” during the recent run-up, unlike prior cycles that saw sharper blow-off tops followed by steep 70-80% corrections.
Using a rubber band analogy, he explained that markets which avoid extreme overextension tend to snap back with less force on the way down. “I don’t think Bitcoin was stretched as a market,” he said, adding that the absence of a true blow-off top helps explain why this drawdown was comparatively shallow.
A Preference for Slow, Steady Growth Over Explosive Rallies
Despite his bullish long-term targets, Carlasare said he’d personally prefer Bitcoin to avoid a sharp, euphoric rally toward $300,000-$400,000, warning that such a move would likely trigger an aggressive snapback once buyers are exhausted and profit-taking accelerates.
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