Bitcoin is below the 2025 average purchase price and near the 1-year moving average.
Nick Szabo explains that bitcoin climbs its “learning curve”, which invites speculation.
The accelerated fall of bitcoin (BTC) below $105,000 has sowed nervousness in the market.
The movement triggered massive liquidations worth $1 billion on derivatives exchanges, mainly affecting traders with long leveraged positions who were betting on the rise.
However, while panic dominates the short term, prominent analysts such as Juan Rodríguez consider that this decline is not a change in trend, but rather a strategic entry window for the investor.
Rodríguez, in a publication recent on the X platform, offered key technical analysis for those looking at the long term. He noted that “the price of bitcoin is approaching the 365-day average, which is very effective in setting the general trend of the asset.”
Historically, this indicator has served as robust dynamic support during bull cycles, and the current approach suggests a relevant support point rather than a structural breakout.
From a broader perspective, Rodríguez calmed the alarms about a possible change of cycle. He assured that “the macro remains acceptable, there are no fundamental changes to lean towards the change in trend.” Based on this macroeconomic stability and technical analysis, Rodríguez stated forcefully that “BTC is in the buying zone for the investor.”
Juan Rodríguez also contextualized the current price level, highlighting the psychological pressure it exerts on market participants. “We are also below the average purchase price in 2025… $103,500,” he explained. This level is significant because it implies that many recent buyers are currently at losses. Therefore, Rodríguez concludes that “this brings important evidence to investor sentiment.”
Rodríguez’s perspective is not isolated. His vision of opportunity in the midst of the correction is echoed by other analysts. Jaime Merino, director of TradingLatino, also described the current moment as a “zone of controlled opportunity, not panic”. Merino told CriptoNoticias that, as long as the price of BTC remains above $99,000, the technical structure “remains positive.”
In short, while the multimillion-dollar liquidations reflect the pain of short-term operators, analysts with a structural vision like Juan Rodríguez interpret the fall as a healthy correction. The current test of investor sentiment will define if long-term buyers manage to absorb the selling pressure and take advantage of this “buy zone.”
Nick Szabo: “bitcoin is climbing a learning curve”
This volatility dynamic, driven by liquidations by leveraged speculators, aligns perfectly with the vision of crypto pioneer Nick Szabo, who, in a post on X, explained that «bitcoin since its inception has been climbing a learning curve»as more “long-term investors and savers learn about its superiority as a store of value minimized in trust and dilution.”
According to Szabo, This rise “invites debt-financed speculation and resulting volatility.”precisely the noise that was seen in the last 24 hours.
For the cryptographer, this volatility, similar to that of “NASDAQ hot stocks,” temporarily obscures “sound money” signals (such as the global money supply or the price of gold). Those signals, Szabo concludes, “will remain secondary signals until bitcoin has finished its learning curve climb, which likely has a long way to go.”