Overview
- On February 5, Burry posted a chart on X comparing the current decline from October’s $126,000 peak to the 2021–22 plunge, implying potential downside into the low $50,000s.
- He did not give a precise target, and a February 3 Substack post warned of “sickening scenarios” if prices fell another 10% from early-week levels.
- Bitcoin traded near $66,000 on Thursday after sharp swings this week, extending a slide that has cut roughly half from last year’s record.
- Technical readings reported in coverage point to a bearish trend and a descending channel, with about a 25% further drop needed to reach the $50,000 zone.
- Skeptics, including trading firm GSR, question the predictive value of a single historical analog, noting the prior crash occurred under very different market conditions.