Skip to main content

Crypto Expert Sells Off Bitcoin Holdings, Gives Reasons Why

Crypto expert Crypto Beast has made a shocking revelation, stating that he has sold off his Bitcoin holdings just as the flagship crypto recently hit a new all-time high (ATH). The expert further gave reasons why he made this move, indicating he was looking to pivot to altcoins.

Expert Gives Reasons Why He Sold Off Bitcoin Holdings

In an X post, Crypto Beast stated he has sold all his Bitcoins. He opined that BTC’s dominance has peaked and will drop massively in the coming months, suggesting that the top might be in for the flagship crypto following its latest rally to a new ATH. The expert added that the BTC price cannot record another 100% move from here, while most altcoins he holds will still witness a 5x to 20x surge. 

Bitcoin

He also revealed that he plans to sell his altcoins at their peak and buy back Bitcoin during the bear market. In an X post, crypto analyst Rekt Capital also commented on BTC’s dominance. He noted that May is coming to a close and that the dominance is firmly positioned for a successful retest of 64% as support.

The analyst added that any short-term dips in the Bitcoin dominance would still enable altcoin moves. However, he warned that the BTC DOM still looks positioned for more upside towards the 71% area over time. In an earlier X post, he stated that Bitcoin has just begun its “Price Discovery Uptrend 2” and that it still has many weeks of upside ahead. 

Rekt Capital noted that there will be normal dips and pullbacks for Bitcoin during this uptrend, but the general macro upside lies ahead. Veteran trader Peter Brandt also raised the possibility of the BTC price rallying to as high as $150,000 by August, indicating that the flagship crypto has more room to rally to the upside. 

Altcoin Season Is On The Horizon

Crypto analyst Mikybull Crypto has made a case for altcoins, predicting that they would soon enjoy massive gains while Bitcoin’s dominance declines. In an X post, the analyst stated that altseason is brewing and that it is becoming clear on the chart. In another X post, he remarked that the Bitcoin dominance is looking to plunge and that it is time for altcoins to show.  

Ethereum is known to usually lead this altcoin season, and Mikybull Crypto is confident that a parabolic rally is loading for the ETH price. In an X post, the crypto analyst stated that ETH is breaking out and that $3,200 is the next target for the altcoin. 

At the time of writing, the Bitcoin price is trading at around $107,938, down in the last 24 hours, according to data from CoinMarketCap.

Bitcoin

from Bitcoinist.com https://ift.tt/vORY1J2
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin ETFs Post Second Straight Week Of $500 Million Outflow — Details

The US-based spot Bitcoin ETFs (exchange-traded funds) recorded their second consecutive week of significant outflows over the last five-day trading period. This recent run of disappointing performances reflects the ongoing shift in investor sentiment in the United States. Over the past year, strong inflows into the US Bitcoin ETF market have constantly been associated with positive action for the BTC price. Fittingly, the price of Bitcoin has been consolidating over the past few weeks, struggling to pick up any real momentum. Bitcoin ETFs Record Fourth Consecutive Outflow Day According to the latest market data , the US Bitcoin ETFs registered a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth straight day (and the eighth day in the last nine trading days) that the crypto-based products would witness a net capital outflow. The Grayscale Bitcoin Trust (with the ticker GBTC) accounted for a larger percentage of Friday’...
Post a Comment
Read more

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more

OpenSea Dodges A Bullet As SEC Drops Investigation—Details

In a move that many in the crypto industry view as a positive signal, the US Securities and Exchange Commission (SEC) has officially discontinued its investigation into OpenSea, the leading NFT marketplace. This decision concludes months of uncertainty regarding the regulatory status of NFTs and their classification under US securities laws. SEC Decision Signals A Shift On February 21, 2025, Devin Finzer, the CEO and co-founder of OpenSea, said the SEC will not take any enforcement action against the firm. This comes following the August 2024 Wells Notice to OpenSea issued by the SEC, which indicated the possibility of legal action on alleged unregistered securities offenses. The outcome of this case suggests a possible shift in the way authorities handle NFTs, therefore affecting the whole scene of digital assets. For the industry, this outcome has been seen as a major turning point. Though they are in rivalry with OpenSea, Chris Akhavan, the Chief Business Officer of Magic Eden,...
Post a Comment
Read more