Bitcoin Bull Bobby Lee Warns Bitcoin Could Break Below Key $60,000 Level
Summary
- Bitcoin is currently in "bear market territory," with the recent bull cycle considered over.
- A breach of the key $60,000 support level is expected in the coming weeks, with potential downside targets of $50,000, $55,000, or even $40,000 later in the year.
- The decline is driven by the unwinding of leveraged long positions and a lack of immediate catalysts, though the long-term "store of value" thesis remains intact.
- Gold is viewed as a parallel store of value with significant upside potential (doubling in coming years).
- Falling Bitcoin prices will force miners to capitulate or pivot their energy/infrastructure toward AI data centers.
Trade Ideas
"I think very likely in the next few weeks it will breach below 60,000 and probably support level of around $50,000, $55,000... could go lower... to $40,000." The market is currently flushing out leverage ("long positions are going to be in for pain"). While the asset is "on sale," the technical breakdown suggests better entry points are imminent. The smart play is to wait for the capitulation to the $40k-$50k range before deploying heavy capital. WATCH (Targeting entry at $40,000 - $50,000). Unexpected macroeconomic liquidity injection causes a "V-shaped" recovery before hitting lower targets.
"Gold... easily could go to $10,000 in the next few years." Gold is performing its historic role as a store of value. The speaker draws a direct parallel between Bitcoin and Gold, suggesting that while Bitcoin is volatile, Gold has entered a structural uptrend that could see it double from current highs. LONG. A strengthening US Dollar or rising real interest rates dampening demand for non-yielding assets.
Bobby Lee
Founder, Ballet Crypto
"A lower price would cause more miners to be unprofitable and leave Bitcoin mining and maybe repurchase their machines to do something else with AI data centers." Bitcoin price is a leading indicator for miner health. If BTC drops to $40,000 (as predicted), mining profitability will collapse. This forces a shakeout where only those capable of pivoting to AI/HPC (High-Performance Computing) survive. Until the price bottoms, pure-play miners face severe margin compression. AVOID (until BTC price stabilizes or AI pivots are confirmed). Miners successfully hedging their production or a sudden spike in transaction fees offsetting the price drop.
Up Next
This Bloomberg Markets video, published February 17, 2026, features Bobby Lee discussing BTC, GOLD, WGMI. 3 trade ideas extracted by AI with direction and confidence scoring.