Prominent Trader: If Bitcoin Falls Below $61,000, It May Test the $54,000 Area

August 1st. Renowned trader Killa stated this morning that Bitcoin experienced another drop after the FOMC meeting. There is currently a significant low-leverage long cluster below the current price. Traders are advised to keep an eye on the $61,000 to $61,500 range. If this price range is breached, Bitcoin will test the $54,000 to $56,000 zone.

Killa, a quant trader focused on BTC, accurately predicted the peak of this bull market in May 2025 and has over 200,000 followers on Platform X. In mid-April, he shorted Bitcoin at $74,688 and switched to a long position during the market-wide downturn on June 5th.