As the Bitcoin price experiences a significant decline, reaching multi-month lows, Gemini Co-Founder Cameron Winklevoss has declared the current plunge a "final opportunity" for investors. He is urging individuals to buy Bitcoin before its price potentially surges above the $90,000 level.
The cryptocurrency, which had previously peaked above $126,000 in October, has now erased its gains for the year. It fell to as low as $89,426 late Monday and was trading just above $90,000 early Tuesday. Winklevoss's statement on X conveyed a defiant tone amidst the prevailing bearish market sentiment, framing the current dip as a classic entry point in Bitcoin's historical pattern of volatility.
This is the last time you'll ever be able to buy bitcoin below $90k!
Cameron Winklevoss
"This is it—the last time you’ll be able to buy Bitcoin below $90k," Winklevoss stated, echoing the sentiment often seen during crypto's boom and bust cycles. His message arrives at a time when the asset's trading volume has surpassed $100 billion, indicating heightened activity despite the price slide. For long-time proponents like the Winklevoss twins, who have supported Bitcoin since its inception, such pullbacks are viewed not as warning signs but as "fire sales" for astute investors.
At the time of reporting, Bitcoin was trading at $91,178 with a 24-hour trading volume of $121 billion.
Why is Bitcoin Price Crashing?
Bitcoin's descent into negative territory this month, marking a nearly 30% drop from its October all-time high, has surprised even optimistic traders, leading to an approximate $600 billion reduction in market value over the past month. The decline accelerated over the weekend after the leading crypto asset failed to maintain the critical $92,000 support level, which then transitioned into resistance, triggering a wave of stop-loss orders.
The 1-week chart indicates that BTC is currently trading near its major support level, hovering just above the 100 Exponential Moving Average (EMA), a level it has consistently maintained since late 2023. The Relative Strength Index (RSI) is positioned at 53, suggesting a moderately bullish market sentiment.
This cascade in Bitcoin's price follows a period of weakened market momentum after the flash crash on October 10. This earlier event was reportedly triggered by renewed trade war rhetoric from U.S. President Donald Trump directed at China, setting the stage for the current market rout and eroding investor confidence in risk assets. Furthermore, diminishing expectations for aggressive Federal Reserve rate cuts have contributed to a negative market mood, with a persistent "risk-off" sentiment pervading global markets.
Analysts attribute the downturn to macroeconomic factors, including delayed liquidity injections and increased volatility, with Bitcoin now testing levels not seen since April.
Industry Voices Split: Buy the Dip or Brace for More Pain?
Winklevoss is not alone in identifying potential opportunities within the current market downturn. Several cryptocurrency influencers and executives have echoed his bullish perspective on X, characterizing the turmoil as a strategic phase for accumulation. Lawrence Samantha, CEO of NOBI, stated to The CryptoTimes, "The crypto market is clearly under heavy pressure, but this isn’t the end of a cycle. I believe it’s the kind of moment that usually creates new opportunities."
Michael Saylor, a prominent Bitcoin advocate and CEO of MicroStrategy, has consistently advised dollar-cost averaging through periods of volatility, although he has not made specific comments this week. Meanwhile, Cathie Wood, CEO of Ark Invest, known for her long-term optimistic outlook, has suggested that renewed inflows into spot Bitcoin ETFs could act as a stabilizing force, according to recent filings.
Samantha further added, "Short-term sentiment indeed can swing violently, but the industry’s foundations still haven’t changed with adoption keeps rising, infrastructure now stronger than ever, and innovation doesn’t stop just because prices pull back."
However, not all perspectives are optimistic. Some industry leaders are urging caution, warning against attempting to buy assets that are still declining rapidly. Forbes contributor Billy Barton issued a stark warning of a "$1 trillion crypto crash," citing the Federal Reserve's hawkish stance as a potential catalyst for further declines. Experts from Economic Times predict that Bitcoin could fall below $90,000 by the end of the month if volatility escalates, with altcoins such as Ethereum and Solana potentially experiencing even steeper drops.
Outlook: Bottom in Sight or Deeper Waters Ahead?
As Bitcoin's market dominance has decreased from 61% to 58.8%, possibly indicating a shift towards altcoins, the market remains in a precarious state. Optimists like Winklevoss anticipate a rapid recovery, driven by institutional demand and potential year-end rallies. Conversely, bears are considering the possibility of Bitcoin testing levels below $85,000. With upcoming U.S. liquidity injections and President Trump's pro-crypto policies still in effect, the current dip might prove to be temporary.
Samantha emphasized, "Crashes like this shake out speculators more than builders. So my focus stays the same: who keeps building, improving products, and solving real problems while the market is ‘bleeding’? Those are the ones who usually lead the next leg up."
Currently, the cryptocurrency community is divided, with a surge of "buy the dip" sentiment clashing with fears of capitulation. In the dynamic world of Bitcoin, where fortunes can change rapidly, volatility remains a constant. Investors are reminded that while opportunities may arise, precise timing is crucial.
Also read: Mt. Gox Moves $936M in BTC as Repayment Deadline Extends to 2026