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After today's partial rise in the Bitcoin (BTC) price, il Capo of Crypto, one of the most famous short analysts in the cryptocurrency market, evaluated the situation of the BTC price.
BTC is trading at $27,100 at the time of writing this article and has increased by 3% during the day. The reason for the increase is thought to be due to the fact that the government in the USA is in danger of shutting down.
In his message to his followers, Capo of Crypto shared his bearish opinions about this rise in Bitcoin price.
il Capo argued that when the structure of recent “pumps” is examined, they are almost always the same. He claimed that the same fake demand generated by the same people and the same price movement was observed as a result. The analyst went further and argued that the reason for these small pumps was that investors were trapped inside and used as exit liquidity by some whales.
The analyst argued that these pump movements are becoming weaker because those who initiate these movements are running out of funds to start new movements. At the end of the message he shared, il Capo said that the BTC price was on the way below $ 25,000.
It is known that the ultimate target for Bitcoin of analysts, who abandoned X due to the reactions, is $ 12,000. il Capo was known for his bullish statements on the BTC price in the past.
*This is not investment advice.