Bitwise’s Dragosch sees up to 20% further downside for bitcoin, puts ‘max pain’ scenario at $48,000

Bitwise's Dragosch sees up to 20% more bitcoin downside, with the long-term holder cost basis at $48,000 the "max pain" scenario

OttoTrader publishedJun 12, 2026, 10:38 AM

Original source timeJun 12, 2026, 10:02 AM

UpdatedJun 12, 2026, 10:38 AM

Source publicationThe Block

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Bitwise's Dragosch sees up to 20% more bitcoin downside, with the long-term holder cost basis at $48,000 the "max pain" scenario Bitwise’s Dragosch sees up to 20% further downside for bitcoin, puts ‘max pain’ scenario at $48,000

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Market context around BTC can change volatility, liquidity, or sentiment. The concrete detail to watch is bitwise's Dragosch sees up to 20% more bitcoin downside, with the long-term holder cost basis at $48,000 the "max pain" scenario

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Use this as watchful context from theblock.co. Watch whether bitwise’s Dragosch sees up to 20% further downside for bitcoin, puts ‘max pain’ scenario at $48,000 confirms momentum, invalidates active bias, or changes timing.

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BTC

Source: The Block on theblock.co.

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