Bitcoin’s slide to $58,000 has bears circling. The price is sitting right at what the power-law model considers a normal cycle low — but futures data suggests there could be worse ahead.
The power-law framework projects $58K as a floor, yet derivatives markets are pricing in a potential drop to $54K or lower. It’s a tug-of-war between historical models and current sentiment.
On-chain data hasn’t shown signs of mass capitulation. Long-term holders aren’t moving coins to exchanges. That’s either conviction or denial — time will tell which.
