Chris Burniske, a partner at the crypto investment firm Placeholder, recently offered an insightful perspective on Bitcoin’s market dynamics.
He mentioned that if the cryptocurrency market experiences another decline, he intends to ramp up his buying activity. Burniske highlighted that particularly when Bitcoin dips below $50,000, the narrative claiming “BTC is dead” might gain traction once again.
In a post shared on the X platform, Burniske explained that although there aren’t many active buyers at present, key price thresholds for Bitcoin remain well-defined. He identified approximately $80,000 as a crucial level—this marks what he considers the local bottom of the ongoing bear market and aligns with lows observed in November 2025. Another important benchmark is near $74,000; this corresponds to April 2025 lows during what was termed “tariff panic,” and it sits just beneath Strategy’s cost basis of about $76,000.
Burniske emphasized that $70,000 holds particular importance since it represents both the upper boundary of a range between $50K and $70K and lies close to Bitcoin’s peak in 2021. Additionally, around $58,000 serves as a strong support zone where two critical indicators converge: the 200-week simple moving average (SMA) and an on-chain cost floor. The most pivotal threshold is at or below $50K—Burniske describes this area as a psychological bottom; falling under this mark could reinforce bearish sentiments suggesting “Bitcoin is dead.”
The seasoned investor also noted that his approach does not hinge solely on price fluctuations. Should prices rise from current levels, he plans to maintain his holdings while diversifying across assets. Conversely, if there’s a sharper downturn ahead, he aims to increase purchases selectively within certain cryptocurrencies—with Bitcoin being his primary focus.
*Please note: This content does not constitute financial advice.*