$64,000 Is the Turning Point… Bitcoin Mean Reversion Warning
A warning has emerged that if Bitcoin breaks below the $64,000 level, which is cited as a key support line, the shock could cascade into the stock market.
According to crypto-focused media outlet Finbold on February 8 (local time), Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, assessed Bitcoin’s recent movement below $70,000, saying it is “entering a phase of mean reversion after a prolonged buildup of speculative excess.”
McGlone pointed out that Bitcoin is a product of the sharp expansion of risk assets amid the abundant liquidity environment following the global financial crisis. As this cycle reaches a mature stage, he explained, Bitcoin prices are showing a tendency to revert toward around $64,000, a level close to both the historical trading high-volume zone and the average value.
On the weekly chart he presented, Bitcoin has tested the mid-$60,000 range multiple times during the recent corrective phase, with trading volume also concentrated around $64,000. This suggests that the price level has functioned as a structural support, absorbing selling pressure.
McGlone also addressed the correlation between Bitcoin and the U.S. stock market. In comparisons with the S&P 500 Index, Bitcoin has acted as a leading indicator of risk appetite, and there have been many past cases where prolonged Bitcoin weakness was followed by a stock market correction. “After the election phase, both the average and the mode are forming around $64,000,” he said, warning that “if this level breaks, a domino-like chain decline could occur, with the next blow potentially hitting the stock market.”
In reality, Bitcoin has experienced a week of extremely heightened volatility. In early February, it briefly fell below $61,000, deepening bearish conditions, marking a drop of about 45% from its all-time high of roughly $126,000 recorded in October 2025. On February 5–6, the price plunged 15% in a single day before rebounding 11% to temporarily reclaim $70,000. However, macro factors such as tariff-related uncertainty, doubts over Federal Reserve policy, and outflows from U.S. spot Bitcoin ETFs continue to weigh on the market, alongside shifts in institutional demand. While retail investors are buying in the $60,000–$63,000 range, large holders’ distributed selling is said to be capping upside potential.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on it. The content should be interpreted solely for informational purposes.*
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