ME News, Oct. 31 (UTC+8) — The whale “Set a Big Goal First” posted an update on X about his Bitcoin market outlook and position adjustments. He said he had previously believed BTC would be unlikely to fall below $78,000, and that its price had in fact remained above $79,000 until it dropped below that level following the recent black swan event. To guard against a repeat of the extreme market conditions seen on Oct. 11, he had already closed about two-thirds of his long positions near $76,000. After observing the market stabilize over the past two days, he re-entered full-size long positions in the $76,000–$78,000 range. His core view remains unchanged: he still believes $58,000 is the bottom of BTC’s current cycle. He added that the bottom of the first phase of this bull market may be around $118,000, while the target for the second rally would be twice $78,000, or about $150,000. He expects BTC could reach $120,000 before the end of this year. (Source: ME)