A popular cryptocurrency analyst under the pseudonym DonAlt believes that the market is once again in a bearish trend and it is bitcoin sellers who are now playing a dominant role.
In a new YouTube video, the analyst said that bitcoin’s drop to $26 000 accurately indicates that “the bears are once again ruling the market.”
“From a trading perspective, I look at the chart and see this: bitcoin has completely drained all of its gains from the news of BlackRock’s bid for the spot ETF.
A popular cryptocurrency analyst under the pseudonym DonAlt believes that the market is once again in a bearish trend and it is bitcoin sellers who are now playing a dominant role.
In a new YouTube video, the analyst said that bitcoin’s drop to $26 000 accurately indicates that “the bears are once again ruling the market.”
“From a trading perspective, I look at the chart and see this: bitcoin has completely drained all of its gains from the news of BlackRock’s bid for the spot ETF.
There’s a reason I advised buying back BTC at $16,000 – there was only an upward path left for bitcoin after the FTX crash.
However, in recent weeks we have seen positive news. But the course has reversed.
I see no reason for a bullish trend, we have now pulled back to levels I don’t think we should have reached,” explains DonAlt.
After the analyst concluded: bitcoin is too weak to grow, and DonAlt himself favors a decline in the price of the first cryptocurrency.