Is This a Crypto Winter? Burry Says $50K, Tiger Says No

Investor Michael Burry warned that Bitcoin’s sharp decline could force widespread liquidations across asset classes, estimating up to $1 billion in gold and silver were sold to cover crypto losses and saying a fall to $50,000 could trigger miner bankruptcies and strain tokenized metals markets.

Crypto-treasury firms illustrate that strain: Strategy reported billions in unrealized losses and a drop in its mNAV toward a critical threshold, while BitMine Immersion Technologies faces even larger paper losses on its Ethereum holdings, raising concerns that forced sales could worsen both token and equity prices.

Technical analysts also see downside risks, noting breaches of key supports, head-and-shoulders patterns and a shift from buy-the-dip to short-selling strategies, with altcoins down 20–40% since recent policy moves and heightened volatility seen as a signal of broader risk-off positioning.

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