Where exactly is BTC's "most painful point"? From 35K to 65K, analysts are arguing fiercely.

[Coin World] Recently, there has been quite a bit of discussion in the community about the “most painful point” of this BTC cycle. One analyst put forward the view that we shouldn't keep fixating on doomsday predictions like $35,000—if a crash were to happen, $55,000 would be a more realistic “maximum pain point,” because the price has never fallen below the lower band of the Bollinger Bands, and technically, there is a bottom holding up there.

However, there are also voices that are not so pessimistic. Jeff Ko, a researcher at a certain trading platform, believes that institutional funds have already entered the market, and the gameplay has changed. The bottom of the bear market may be stuck in the range of 65,000 to 68,000 USD—after all, large holders will not let the price collapse too drastically. However, Augustine Fan from SignalPlus poured a bucket of cold water, saying that if it falls below the key support between 72,000 and 75,000, it may trigger a chain reaction of liquidations.

When saying this, BTC is still hovering around $87,000. Where is the market headed? The opinions vary quite a bit.