Add as a preferred source on GoogleBitcoin Whale Says It Cut Two-Thirds of Position, Plans $76,000-$78,000 Rebuy
The trader maintained that $58,000 was the cycle low and set successive bull-market floors at $118,000 and $150,000, with a $120,000 year-end target.
An unidentified Bitcoin (BTC) whale said it cut two-thirds of its position at $76,000 to prepare for extreme conditions and plans to repurchase its full BTC holding between $76,000 and $78,000.
The trader posted again after a 22-day gap. It maintained that $58,000 was the cycle low, even after a black swan event pushed BTC below $78,000, and said the bull market had begun.
The trader placed the bull market’s first-stage floor at $118,000 and its second-stage floor at $150,000. It also forecast that Bitcoin could reach $120,000 by year-end.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.