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Wall Street veteran Tone Vays, prominent Bitcoiner and popular YouTube blogger, is ready to open long positions on the orange coin again. Meanwhile, in a rare pattern, $BTC performance in the last 24 hours brought enough pain to bulls and bears.
Bitcoin ($BTC) hits $100,000, Tone Vays is back to long
Top trader Tone Vays is back to Bitcoin ($BTC) long at the current prices. In his latest post on X, he announced a comeback as Bitcoin ($BTC) yet again attempts to hold above $100,000.
Now that the year is over, I am now back to fully Long in Bitcoin as of this afternoon at a price of around 100k! https://t.co/wKQXOyfune
— Tone Vays (@ToneVays) January 7, 2025
Vays exited all of his Bitcoin ($BTC) long positions in late November 2024. He doubted Bitcoin's ($BTC) ability to reach a six-digit value by the end of 2024. Also, he was wondering whether the "Buy The Dip" opportunity under $90,000 was real.
Since his former statement, Bitcoin ($BTC) reached $108,000 on Dec. 17 and never touched sub-$90,000 waters again. Registered Dec. 31, $92,500 was the local bottom of the last Bitcoin ($BTC) correction.
As covered by U.Today previously, five years ago, Tone Vays masterfully called the $3,200 $BTC crash on BitMEX on Black Friday, March 13, 2020, the bottom of the 2018-2020 Crypto Winter.
Former Vice President at JP Morgan Chase, Tone Vays is also known as an adamant critic of altcoins, "yield farming," Bitcoin ($BTC) forks, Ripple, XRP, ICOs and so on.
$212 million in liquidations hit crypto market, bulls and bears suffer equally
At the same time, Bitcoin ($BTC), the largest cryptocurrency, is trying to finally cement its positions above $100,000 level. In the last 24 hours, its capitalization added 2%. The largest cryptocurrency is trading at $100,547 as of press time.
On low time frames, its price formed a textbook example of the "Bart Simpson Pattern." As a result, its price surged from $99,000 to $102,200, but then dropped to $100,500.
Thanks to high trading volume, such fluctuations caused much pain for bulls and bears. Out of $212 million liquidations in crypto, short and long positions comprise $106 million each, which is very rare, as per CoinGlass data.