Bitcoin's Big Drop: Should You Jump In Now?

Bitcoin has taken a significant hit, dropping over $40, 000 from its peak. This has left many traders wondering if it's time to buy. A well-known crypto trader, Pentoshi, who usually avoids buying during dips, thinks this time might be different. He believes Bitcoin has fallen enough and could be close to a bottom, possibly bouncing back around $83, 000 to $85, 000. Pentoshi shared a surprising fact: even Michael Saylor, a big Bitcoin supporter, has only seen a small profit over the past five years. This shows how tough the market has been. Despite being on vacation, Pentoshi decided to buy some Bitcoin but advised others to be patient and not make emotional decisions. On-chain data adds to the speculation that a bottom might be near. There's been a surge in large Bitcoin transactions, with over 102, 900 transactions above $100, 000 and 29, 000 above $1 million this week. If this trend continues, it could be the busiest week for whales in 2025. However, traders are still cautious. Altcoin Sherpa suggests that buying now is only a good idea for long-term investors who can handle another 10% to 15% drop. Short-term traders should be careful, as past "bottoms" have often gone lower. Meanwhile, another top trader has identified the $85, 000 to $87, 000 range as a key buying zone, possibly the last chance to buy Bitcoin under $90, 000.