'Bitcoin Is Not Dead': Veteran Trader Bob Loukas Reacts to Crypto Collapse With Bear Market Call

Well-known analyst Bob Loukas urged investors to remain calm amid Bitcoin's decline to $59,307 and the liquidation of $1.49 billion in margin positions. The veteran trader emphasized that the industry remains viable, but the market must finally get rid of the illusion of quick profits promoted on social media.

In his view, the current wave of selling is a natural final cleanup within the 4-year cyclical model. The main blow from this storm fell on buyers who opened trades with leverage.

According to CoinGlass data, over the past 24 hours, exchanges automatically liquidated Bitcoin long positions held by 212,686 participants for a total of $1.19 billion. The densest flow of liquidations occurred over the past four hours, wiping out another $327.56 million in positions.

$1.49 billion crypto liquidation putting pressure on Strategy

Many experts directly link Bitcoin's decline to the worsening situation around Strategy, whose stock, MSTR, moved lower, while the STRC instrument fell to $75 against a par value of $100. Michael Saylor's company, with its debt burden and 847,363 BTC on its balance sheet, may have become an attractive target for short-selling funds trying to push the price down.

This decline has made it harder for the company to raise new capital on the same terms. CryptoQuant analysts have already recommended that Strategy temporarily pause new Bitcoin purchases in order to restore the balance of its cash reserves.

Despite the local infrastructure stress, Loukas believes that Bitcoin has already entered the time window for forming a long-term bottom. Historically, the cleansing of excessive margin positions has preceded a trend reversal.

However, according to the analyst, counting on a quick price recovery would be premature. To fully complete the bearish phase, the market will need another 3 to 5 months of sideways trading, while the beginning of a new cycle is expected closer to the autumn of 2026.