Bitcoin To Hit $150k Once Whale Sales End, Says Nakamoto CEO David Bailey
Nakamoto CEO and crypto advisor to the Donald Trump administration David Bailey says that Bitcoin (BTC) would already be at $150K if it weren’t for two whales that he believes are actively selling the crypto. “The only reason we’re not at $150k right now is two massive whales,” Bailey said on X. “Once they’re slain” BTC will go “up only,” he added. He said that one whale has already been taken care of, leaving the market to absorb sales only from the other. Bailey’s post comes after a whale sold 24K BTC worth approximately $2.7 billion on Aug. 24, leading to a flash crash in the crypto market. This liquidated around $500 million in leveraged positions over the course of minutes. Whales Appear To Be Pivoting From Bitcoin To Ethereum The selloff by Bitcoin whales appears to be part of a pivot from the leading crypto to the largest altcoin by market cap, Ethereum (ETH). One particular whale, which on-chain...