Crypto analyst InvestAnswers has thrown cold water on the panic gripping the Bitcoin market, telling investors that the leading cryptocurrency is sitting on signs of a late-stage bear market
Crypto analyst InvestAnswers has thrown cold water on the panic gripping the Bitcoin market, telling investors that the leading cryptocurrency is sitting on signs of a late-stage bear market bottom, and that its biggest move may be just one round number away.
In a podcast, the analyst argued that Bitcoin's recent slide masks a more bullish setup beneath the surface. The token has shed roughly 12% in June, yet it has clawed back close to $3,000 since Thursday without any real push from spot Bitcoin ETFs.
What caught his attention was supply. Long-term holders now control 16.62 million Bitcoin, a fresh all-time high, suggesting patient investors are quietly pulling coins off the market. That kind of accumulation, he said, tends to set the stage for a supply squeeze the moment demand picks back up.
He also dismissed the idea that Federal Reserve policy or global liquidity is steering the price, pointing out that Bitcoin has dropped even as liquidity has climbed since 2024. In his words, the asset "behaves as an independent sovereign apex predator."
Related: Veteran trader says one trend could send Bitcoin to $1 million
For the analyst, the line in the sand is six figures. He believes a reclaim of the $100,000 level would flip sentiment hard and reignite momentum across the entire Bitcoin complex, including Michael Saylor's Strategy.
Fears around Saylor's accumulation model intensified after the firm trimmed 32 Bitcoin, though it has since added more and lifted its cash reserve to around $1.4 billion, enough to cover roughly a year of STRC dividends.
"Once Bitcoin gets back up north of $100,000, this thing will rocket," the analyst said.
The boldest claim came from an unexpected source. InvestAnswers said he ran the question through multiple versions of xAI's Grok, asking which asset, Bitcoin, SpaceX, Tesla, Nvidia, Apple, gold, real estate or the S&P 500, would build the most wealth over the next three decades.
Bitcoin came out on top every time, edging ahead of Tesla and SpaceX by a sliver. The analyst credited Bitcoin's scarcity thesis, adoption momentum and asymmetric payoff, noting that more than 95.5% of all coins are already mined, with the final 4.5% trickling out over 120 years.
He framed all three as bets on either scarcity or exponential growth, though he conceded the AI could simply be wrong.
At the time of writing, Bitcoin was changing hands near $62,162.
Related: Analyst compares Saylor's Strategy to bankrupt crypto company
