Bitcoin historical model valuation: Bottom range $44,000-$54,000. If $60,000 is effectively broken, $44,000-$54,000 will likely become the bottom range, with an extreme bottom at $35,000-$40,000. The pullback in this bear market cycle might be smaller than previous ones. Bottom formation: Support stabilizes -> Selling pressure weakens -> Confidence recovers -> Price rebounds. If the price drops to the $44,000-$54,000 range, consider building positions in batches on the left side!