Zinger Key Points
- Bitcoin plunged below $100,000, hitting a low of $91,000 amid Trump’s tariff announcements.
- Despite the dip, top traders remain optimistic, calling it a healthy shakeout.
Bitcoin BTC/USD is down 3% over the past 24 hours, dropping as low as $92,000 on Monday morning, but traders and analysts remain upbeat about the crypto king’s prospects.
What Happened: Cold Blooded Shiller commented “horrifying” on altcoins tumbling to levels unseen in three years, a move that saw $2 billion liquidated across 1 million traders.
The trader also warned against overtrading or chasing losses, suggesting to wait for consolidation before making moves.
"Opportunities will come, but chasing rarely ends well", he said.
Given the current aggressive climate—news impact, trade wars, and unpredictable conditions—Shiller suggests trading only within one’s comfort zone.
Crypto trader Jelle remains unfazed, sticking to his strategy of taking profits on the way up to hedge against pullbacks.
Veteran trader DonAlt believes BTC “still looks great,” especially if the weekly candle closes green.
He advised traders to stay unlevered and avoid FOMO.
The trader said that if any other time in crypto history he would have started using leverage and bet on a breakout to the upside.
Also Read: EXCLUSIVE: Anthony Scaramucci Warns Donald Trump’s Crypto Promises May Be A ‘Mirage’
Why It Matters: Santiment data shows extreme bearish sentiment peaked—the most negative in over a year—after BTC hit $91,200 before rebounding to $96,000.
However, historically, extreme bearish sentiment has often signalled strong buying opportunities.
IntoTheBlock data shows Bitcoin's large transaction volume increasing by 26.6%, while transactions greater than $100,000 rose from 9,417 to 9,766 in a single day.
Coinglass data shows Bitcoin long liquidations at $256.5 million, the highest level since Dec. 5, 2024.
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