Bitcoin is poised for a recovery following a 47% drop from its October peak, according to Thomas Perfumo, global economist at Kraken. Perfumo predicts that Bitcoin's price will stabilize between $65,000 and $70,000 as market volatility decreases. He cites historical patterns from previous corrections in August 2024 and March-April 2025, where similar market dislocations led to recovery rallies. Perfumo's optimism is echoed by other industry figures, including US Treasury Secretary Scott Bessent and Maelstrom CIO Arthur Hayes, who also foresee a market rebound. Supporting his outlook, Perfumo points to onchain data indicating reduced selling pressure from long-term holders. Meanwhile, Gabe Selby of CF Benchmarks suggests that the recent volatility spike may signal a market bottom, rather than the start of a prolonged decline. However, not all analysts share this bullish sentiment. Bloomberg's Mike McGlone warns of a potential further decline, predicting Bitcoin could fall to $10,000. Additionally, the potential appointment of Kevin Warsh as Federal Reserve Chair could impact investor sentiment, given his perceived hawkish stance on interest rates.