David Bailey: Bitcoin price may only rise to $150,000 after the two major whales complete their sell-off

ChainCatcher news, Bitcoin holding company Nakamoto CEO David Bailey stated that the price of Bitcoin may only rise to $150,000 after the two major Bitcoin whales complete their sell-off. Bailey posted on the X platform on Tuesday: "The reason Bitcoin hasn't reached $150,000 yet is because of these two whales. Once they finish selling (one has already sold over half, and the other is in the process) … the price will only continue to rise."

Recently, multiple whale transactions have caused turbulence in the Bitcoin market. A certain Bitcoin whale sold 24,000 BTC (approximately $2.7 billion), leading to a flash crash in the Bitcoin market. According to QCP analysis, this crash resulted in about $500 million in leveraged positions being liquidated within minutes. A few days ago, a whale holding Bitcoin for over five years began transferring funds into Ethereum, selling $4 billion worth of Bitcoin through the decentralized exchange Hyperliquid. The sentiment in the cryptocurrency market has intensified, with the cryptocurrency fear and greed index dropping to the "fear" range on Saturday. Although it rebounded to a "neutral" level of 49 on Tuesday, it had previously fluctuated between "fear" and "neutral."