Placeholder Partner: When BTC reaches $75,000 or lower, I may become interested in the market again

Chris Burniske, former head of crypto at Ark Invest and current partner at Placeholder VC, wrote on the X platform: "Last Friday's plunge caused the crypto market to stagnate in the short term. After such a collapse, it is difficult to quickly form sustained buying. This cycle has been disappointing for most people, which may limit their actions as everyone hopes for a 'market recovery' or previous historical highs. It is easy to get caught up in the details of the charts, but if you look at the monthly charts of BTC and ETH, it shows that we are still in the high range (although there are cracks), if you are considering taking profits. MSTR is falling, gold is issuing a warning, as are credit markets, and stocks will be the last to react. We can always get a weak rebound, but I have already taken action (remember, cashing out is never all or nothing). I will observe BTC's reaction to $100,000, but when