Bitcoin price drops to $62.5K as trader warns weekly close may spark more losses
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A well-known trader stated that Strategy's OTC selling of cryptocurrencies has limited impact on spot prices, and Bitcoin could potentially reach as high as $65,600.
According to Mars Finance, on July 7th, renowned trader Killa (@KillaXBT) stated that if Bitcoin holds above last week's closing price (approximately $59,000), it could potentially reach $65,600. Furthermore, regarding the "historic sell-off of 3,588 BTC by Strategy," Killa clarified that Strategy did not sell through the open market but rather through institutional trading to avoid significantly impacting Bitcoin's price. This partly explains Bitcoin's initial drop followed by a rise last night. Killa, a quantitative trader specializing in BTC, predicted the peak of this bull market in May 2025 and has over 200,000 followers on the X platform. In mid-April, he short Bitcoin at $74,688 and then went long during the market downturn on June 5th.
Jack Mallers' Strike has launched "volatility-resistant" Bitcoin mortgage loans, claiming they will not be liquidated due to price drops.
ChainCatcher reports that Strike, founded by Jack Mallers, has launched a new Bitcoin-backed loan product designed to avoid forced liquidation due to falling BTC prices. Strike states that as long as borrowers make timely payments, the collateralized BTC will not be moved or liquidated, regardless of how deeply the Bitcoin price falls. Mallers stated on X that the product has no margin requirements and no price-based liquidation mechanism, allowing users to borrow USD while continuing to hold Bitcoin. He noted that volatility is inevitable, but liquidation is not. Strike states that the new loan product eliminates price-triggered actions linked to the loan-to-value (LTV), so borrowers do not need to worry about automatic liquidation due to falling BTC prices. As long as interest and due payments remain normal, the collateral will remain undisturbed.
Bernstein: Maintains year-end target price of $150,000 for Bitcoin; current pullback is still weaker than historical cycles.
According to Mars Finance, on July 7th, despite a roughly 54% drop in Bitcoin's price from its October 2025 high of nearly $125,000, Bernstein maintained its year-end target price of $150,000. Bernstein believes that the current pullback is significantly less than the 75% to 90% declines commonly seen at the end of historical cycles, indicating a shift in market structure. In the current context of low market sentiment, Wall Street's clear target prices provide a price anchor, while historical retracement frameworks help traders assess risk. If this cycle follows historical trends, the market may still decline further, but institutional assessments of the subsequent recovery are still worth noting. The firm points out that the previous high of nearly $125,000 in October 2025 remains a significant resistance level; based on a historical 75% retracement, the corresponding price is approximately $31,000, which can be considered a key failure zone. Going forward, we will focus on whether the inflow of funds into Bitcoin spot ETFs and spot demand will rebound, as these are important signals for judging whether the market has entered a recovery phase.
Bitcoin remains in a downtrend on the weekly chart; watch for opportunities at $68,000 and oversold projects.
According to Mars Finance, Jack Yi stated that Bitcoin is currently in a downtrend on the weekly chart, and in the short term, attention should be paid to whether it can effectively break through $68,000. He believes that only a strong move above $68,000 could lead to a significant reversal; if the breakout fails, the price may retest the bottom, and the risk of falling below $47,000 should be noted.
Financial trader Peter L. Brandt: Considering selling some of his Bitcoin and buying gold.
According to Foresight News , financial trader and Factor LLC CEO Peter L. Brandt stated that he is considering selling some of his Bitcoin and using the proceeds to buy gold. He believes the price of gold will rise significantly, exceeding the price of Bitcoin.
Michael Saylor: If Bitcoin's long-term price increase exceeds 3.3%, BTC capital gains could fund STRC dividends indefinitely.
According to ChainCatcher, Bitcoin Treasuries.NET posted on the X platform that Strategy's Michael Saylor stated that if Bitcoin's long-term price increase exceeds 3.3%, BTC capital gains can fund STRC dividends indefinitely. Even if BTC's annual price increase is 0%, Strategy will still have dividend funds for 31 years.