Placeholder partners draw down a Bitcoin "vacuum": A price below $50,000 may see a resurgence of the "BTC is dead" narrative.

Chris Burniske, a partner at Placeholder, posted on the X platform that he is not currently a buyer, but believes key Bitcoin price levels to watch include: 1. Approximately $80,000: This is the low point of November 2025, a local low point in this "bear market." 2. Approximately $74,000: This is the low point of April 2025, also the low point of the "tariff panic," slightly below Strategy's cost base (approximately $76,000). 3. Approximately $70,000: The top of the $50,000-$70,000 range is roughly close to the 2021 high. 4. Approximately $58,000: This is the 200-week Simple Moving Average (SMA) and on-chain cost base. 5. Approximately $50,000 and below: This is a psychological bottom price level; below this price, the "BTC is dead" narrative will reappear. Chris Burniske stated that if the market rebounds from its current level, he will continue to hold existing assets and diversify his portfolio; if the market falls, he will buy more Bitcoin and specific crypto assets.