BiyaPay Analyst: Bitcoin Rebound Could Be a Bull Trap, $60,000 Range Is the Healthy Bottom

On October 13th, US stocks and Hong Kong stocks related to the cryptocurrency sector continued to decline. However, Bitcoin briefly touched $11,600 today and experienced a short-term surge of nearly $1,000, rising by 4.25% in the past 24 hours. According to CoinGlass data, a total of 183,988 people were liquidated globally in the past 24 hours, with a total liquidation amount of $630 million, causing significant market volatility. The industry generally believes that today's rise is not a reflection of optimistic fundamentals but a short-term speculative game of safe-haven funds under Trump's tariff threat. Investors have shifted to traditional safe-haven assets such as gold and US treasury bonds, leading to a sharp drop in cryptocurrency market sentiment. A trader who accurately predicted the 2022 cryptocurrency market crash warned, "Although Bitcoin is currently holding above $100,000, it has not yet reached the healthy correction zone of $60,000 to $70,000. If macro risks continue to escalate, the market still has significant downside potential." The BiyaPay analyst team pointed out that the current market is entering a "liquidity repricing cycle." The Federal Reserve's long-term expectation of high interest rates makes it difficult for the cryptocurrency market to attract risk capital sustainably. At the same time, the demand for downside protection in the derivatives market has surged, and hedging behavior in options and futures contracts may further increase price volatility in the short term. As a platform that supports the free conversion of multiple fiat currencies and cryptocurrencies, BiyaPay reminds investors to strengthen risk control during periods of high volatility and make rational asset allocations. The BiyaPay platform supports zero-fee cryptocurrency trading and allows investment in US stocks, Hong Kong stocks, and futures markets using USDT, helping users flexibly allocate assets and balance risk and return in global markets. The analyst concluded, "The true bottom often emerges from panic, not excitement. Prudent investment is the key to navigating the cycle."