If Bitcoin breaks below $55,000-$60,000, it will lead to another crypto market crash similar to the FTX event, driven by over-leveraged investors.
"if we break below that I can reassure you this it's going to be the FTX thing all over again a bunch of crypto investors getting over their head overly aggressive with too much size at overbought levels... just as quick as it ran up it will come crashing down"