James Thorne, chief market strategist at Wellington-Altus, outlined a possible bitcoin recovery on Nov. 14, targeting $117,000 by mid-2027 and $150,000–$170,000 by the end of 2027. His forecast requires bitcoin to reclaim $73,000 and then rise above $87,000 to confirm the chart pattern he described; a fall below $57,000 would invalidate it. The pattern was still forming in his assessment.
Coinglass recorded a bitcoin low of $61,956.30 on Nov. 15, below Thorne’s first recovery threshold. Thorne attributed the selloff to leverage rather than fundamentals, but Glassnode reported shrinking liquidity and weaker U.S. demand, including $1.6 billion in net withdrawals from U.S. spot bitcoin ETFs over 20 trading sessions.
