Today, a prominent cryptocurrency analyst known as Il Capo of Crypto shared fresh insights regarding $BTC, especially in light of its recent price decline.
When discussing the future prospects for $BTC, he noted that the asset reached its peak value in 2024 and has now entered what he describes as a “primary support zone.”
Il Capo observed that current market sentiment is notably pessimistic, with the Fear and Greed Index indicating extreme fear over the last several days. Many traders are anticipating further declines. Additionally, he pointed out that various news headlines are echoing this negative outlook.
In light of these factors, Il Capo believes it may be an unwise moment to adopt a bearish stance. Despite having made several predictions about potential increases in $BTC, he clarified that he does not personally hold or trade Bitcoin; instead, he utilizes it merely as a benchmark.
*This should not be considered financial advice.