One Major Reason Bitcoin Hasn’t Reached $150,000, According To Trump’s Crypto Advisor

Bitcoin (BTC) has experienced a significant correction this week, retracing over 10% from its all-time highs above $124,000. Despite this downturn, many remain optimistic about the cryptocurrency’s potential for further gains in the coming ￰0￱ Bailey, CEO of Bitcoin Magazine and a crypto advisor to President Donald Trump, has attributed the recent price fluctuations to the activities of large investors, commonly referred to as “whales.” Bitcoin Sell-Off Triggered By Whales? In a recent social media post on X (formerly known as Twitter), Bailey pointed out that two prominent whales are responsible for the recent sell-off, having reportedly liquidated 80,000 and 120,000 BTC, respectively.

Interestingly, NewsBTC reported last week that despite record inflows into Bitcoin exchange-traded funds (ETFs) and growing interest from public companies, Binance may be one of these whales orchestrating the ￰1￱ suggested that Binance might be utilizing a market maker, Wintermute, to strategically execute trades, thereby creating a bearish trend that retail investors might ￰2￱ strategy could allow Binance to profit from liquidations in the futures ￰3￱ Reading: Ethereum Price Stuck In ‘Loading Phase’, What This Means For The Campaign For $5,000 Adding another layer to the current market dynamics, data analysis firm Arkham recently disclosed that a whale with over $5 billion in Bitcoin has begun purchasing Ethereum (ETH), moving $1.1 billion worth of BTC to a new wallet to facilitate these ￰4￱ Bailey did not disclose the identities of the whales involved, he indicated that one is already “down,” while the other is halfway to a similar ￰5￱ could suggest that once these sell-offs conclude, the Bitcoin price could regain its momentum, potentially reaching Bailey’s target of $150,000 per coin, which would signify a substantial 36% increase from current price ￰6￱ Companies Now Hold Over 6% Of BTC’s Supply In addition to the alleged whale activity that has suppressed Bitcoin’s uptrend, the growing involvement of publicly traded companies in the cryptocurrency market is impacting its price ￰7￱ to JPMorgan global market strategist Nikolaos Panigirtzoglou, corporate treasuries now hold over 6% of Bitcoin’s total supply, acting as a form of private sector quantitative easing for the crypto ￰8￱ analyst noted that the surge in Bitcoin purchases by corporate treasuries has led to a decrease in the cryptocurrency’s volatility, which could ultimately make the asset more appealing to ￰9￱ Reading: WLFI Slides 15% After Launch As Trump Token Team Eyes Burn Strategy Panigirtzoglou highlighted that in July alone, public companies like Strategy (previously MicroStrategy), accounted for nearly two-thirds of Bitcoin purchases among major buyers, including exchange-traded funds and government ￰10￱ suggests that this influx of institutional investment may reshape the landscape of Bitcoin ownership and trading, as reduced volatility can enhance BTC’s attractiveness as an investment alternative, particularly in comparison to ￰11￱ of this writing, the leading cryptocurrency is trading at $110,900.

This represents a slight 2% surge in the last 24 hours and a 90% increase ￰12￱ image from DALL-E, chart from ￰13￱