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Analyst: The true bottom for Bitcoin may appear after a "capitulation sell-off," with $65,000 being a key mean support

ChainCatcher news, according to CoinDesk, although the possibility of a bottom having already formed cannot be ruled out, on-chain analyst James Check stated that the true bottom may only appear after Bitcoin experiences a real "capitulation sell-off" event.James Check indicated that this could mean Bitcoin needs to drop to around the $65,000 area, which he refers to as the "true market average," or the average cost basis of active investors. Once it falls to this level, the average investor may begin to feel the pressure of unrealized losses, and even those long-term holders who have held their coins for five years may face a "being trapped" situation. Michael Saylor's Strategy has an average Bitcoin cost basis of about $67,500.Although Check expects a significant drop from the $65,000 area, he believes there is strong support between $49,000 and $50,000. This price range represents both the launch price for Bitcoin spot ETFs in 2024 and symbolizes a critical threshold for Bitcoin's $1 trillion market cap. He stated that unless a global economic recession occurs, the likelihood of Bitcoin dropping to $40,000 is low. In 2024, Bitcoin has undergone a long period of "chopsolidation" phase—where the price has remained within a wide fluctuation range of $50,000 to $70,000 for several months, establishing a solid support foundation for the market.

Bitget responds to campus ambassador controversy: has always upheld its bottom line and will launch the "Green Campus Program."

ChainCatcher news, Bitget's Chinese head, Xie Jiayin, released a clarification and explanation regarding the campus ambassador program on social media, stating, "In response to today's Rhythm BlockBeats initiative urging major trading platforms to stop promoting contract experience funds to college students, Bitget makes the following statement:Regarding the campus ambassador program: Bitget's campus ambassador program aims to promote blockchain knowledge and provide internship opportunities, and does not encourage contract trading or distribute contract experience funds. The program was launched on February 18, and due to user misunderstandings related to contract rebates, Bitget quickly took it offline globally on February 19, with all applications not being approved during this period.Upholding principles, refusing inducement: Bitget has never distributed contract experience funds to students in any form, which is Bitget's bottom line. We welcome social supervision; if such behavior is discovered, please take a screenshot and report it. Bitget will handle it seriously and offer a reward of up to 1000 USDT to valid reporters.University cooperation limited to popular science and employment: Bitget's cooperation with universities focuses on Web3 popular science, internships, and employment guidance, such as the 2025 campus recruitment (28 people already hired), Zhejiang University hackathon, and Hong Kong University of Science and Technology Web3 sharing session, etc.Bitget always supports industry self-discipline and actively responds to the Rhythm BlockBeats initiative. Based on this, Bitget will launch the "Green Campus Program" to help college students understand Web3 and explore the future in a healthier way. We welcome everyone to supervise and provide suggestions."
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