What to know : Michael Burry, famed for "The Big Short," shared a bitcoin chart comparing the current pullback to the 2021–22 slump, suggesting the possibility of a deeper reset before a durable bottom. The earlier cycle saw bitcoin slide from about $35,000 to below $20,000, which some interpret as implying potential downside toward the low $50,000s at today’s price levels. Analysts are divided over the validity of the analogy, noting that the prior crash occurred amid Fed tightening and retail-driven leverage, while today’s market is shaped by spot ETFs, institutional liquidity and broader cross-asset volatility.
Perma-bears, much like their hyper bullish counterparts, love shoehorning patterns into the chaos to prop up their gloom.
Take Michael Burry, the "Big Short" oracle famed for doomsday calls, who's now comparing bitcoin's ongoing bear market with the 2022 brutal plunge , ominously hinting this crash has legs to run much deeper.
In a post on X in early Asian hours Thursday, Burry highlighted similarities between BTC's drop from the October high of $126,000 to $70,000 and Bitcoin’s late 2021 and 2022 plunge, claiming in a chart that patterns match perfectly so far.
The previous bear market saw bitcoin fall from around $35,000 to below $20,000 before stabilizing — a move that, when mapped onto today’s price levels, implies risk toward the low $50,000s.
Burry did not spell out a target, but the visual comparison was enough to reignite debate over whether bitcoin is repeating an old script or whether the analogy is being stretched too far.
Analysts and traders questioned whether a single historical instance qualifies as a meaningful pattern at all.
“Is it a pattern if it happened once?” asked trading firm GSR, capturing a broader skepticism toward analog-driven market calls.
The critique goes beyond semantics, however, bitcoin’s 2021–22 collapse unfolded under very different conditions, marked by aggressive Federal Reserve tightening, collapsing crypto-native leverage and heavy retail participation.
On the other hand, today’s market is shaped by spot bitcoin ETFs, deeper institutional liquidity and a macro backdrop dominated less by rate hikes and more by cross-asset volatility tied to equities, commodities and artificial intelligence spending fears.
Still, Burry’s comments have landed at a sensitive moment.
Bitcoin has been whipsawing sharply this week, dropping below $71,000 before rebounding and then slipping again as global risk appetite deteriorated.
Burry’s history adds weight to the discussion, even when his calls prove controversial. His approach often centers on shifts in positioning and market psychology rather than precise forecasts.
In that sense, the chart functions less as a prediction and more as a warning about failed rebounds and dimmed conviction.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
