BTC has dropped to a historical support level, and institutions say the probability of a rebound is higher.

[Crypto World] This BTC pullback might be the strongest since the last bear market ended. But there’s an institution that thinks the market is overreacting a bit.

Spot ETFs are selling, CME futures don’t have much volume—these factors are indeed dragging things down. But as for threats like quantum computing? Panicking now seems a bit much.

Interestingly, the price has already dropped near the historical support zone of 70,000 to 80,000. More importantly, leverage on perpetual contracts isn’t high. With this combination, the probability of a rebound is actually quite high.

Plus, there’s room for policy adjustments, and the Fed’s attitude toward crypto is fairly friendly. December might even turn out to be a turning point. When market sentiment is this pessimistic, a turnaround is often not far off.