Vinny Lingham has issued a stark warning to the crypto market: holding the $60,000 line is no longer just about short-term price action—it is about the survival of the current cycle.
With Bitcoin trading down 4.4% at $64,498 on Monday, Lingham took to X (formerly Twitter) to outline a potential “2022-type blow up” if the asset fails to defend its most critical support level.
Critical levels
According to Lingham, the market is currently balancing on a razor’s edge.
He identifies the immediate danger zone at $64,000. If Bitcoin loses this level, Lingham predicts the price will “retest $60k very quickly,” though he noted there would still be hope for a stabilization bounce in that scenario.
However, the stakes change dramatically at $60,000. Lingham calls this the “most critical support level of this cycle.”
If Bitcoin hits $60,000 and executes a sharp, V-shaped bounce, it would form a “double bottom,” establishing a massive foundation of strong support for a future rally.
If the $60,000 floor gives way, Lingham warns that the consequences will be catastrophic.
Cascading liquidations
Lingham did not mince words regarding the fallout of a sub-$60K Bitcoin.
“If we lose $60k, violent cascading liquidations ensue, and you can kiss any recovery goodbye, at least until the next halving approaches,” he wrote.
The threat to DATs
Perhaps most alarmingly, Lingham predicts that breaking $60,000 would trigger systemic failures among corporate holders of crypto.
“You’ll probably see a bunch of treasury companies for both BTC and ETH blow up,” Lingham warned.