Several Whale Buy Orders Foiled, Analysts' Viewpoints Summarized: Bitcoin at $56,000 May Be the Limit, Significant Increase in Coin-Margined Futures Open Interest Warrants Attention

On June 3rd, Bitcoin briefly dipped below $66,000 that day, triggering liquidations for numerous smart money traders who had profited from swing trading earlier. The whale known as "A Whale's Ten Commandments" confirmed its Bitcoin long position was liquidated once the price fell below $66,000. Additionally, the ETH swing whale address linked to BIT gave up $44.61 million in gains during this decline and now requires continuous margin top-ups to avoid liquidation. Regarding this downturn, several analysts have shared their bottom price forecasts: Peter Brandt, the prominent trader and chart analyst who accurately predicted the 2018 Bitcoin crash, used technical analysis yesterday to project that Bitcoin could bottom out in the $56,000 range. Meanwhile, crypto KOL WinePicks believes a new round of decline has begun, setting a bear market bottom target of $42,000 to $44,000. On the indicator front, the historically validated ahr999 index dropped to 0.35 during this pullback. Static projections show that if this index hits its secure bottom threshold of 0.3, Bitcoin would need to fall to between $61,300 and $61,400. Notably, Bitcoin’s open interest in coin-margined futures contracts rose against the trend in this period, now standing at 784,400 contracts—near an all-time high. Killa, the well-known trader who predicted this bull market’s peak in May 2025, stated this often signals a critical top or bottom and warrants close attention.