{"id":5525,"date":"2025-06-23T18:13:12","date_gmt":"2025-06-23T18:13:12","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/crypto-bull-run-over-heres-what-a-top-trader-just-said\/"},"modified":"2025-06-23T18:13:12","modified_gmt":"2025-06-23T18:13:12","slug":"crypto-bull-run-over-heres-what-a-top-trader-just-said","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/crypto-bull-run-over-heres-what-a-top-trader-just-said\/","title":{"rendered":"Crypto Bull Run Over? Here\u2019s What A Top Trader Just Said"},"content":{"rendered":"

With Bitcoin precariously recovering above the $100,000 mark and altcoins bleeding momentum, traders are asking the obvious: Is the crypto bull run over? According to systematic trader Adam Bakay (@abetrade), the answer is not so clear-cut. In a detailed market breakdown posted June 22, Bakay offered a technically grounded, cautiously defensive assessment\u2014one that acknowledges geopolitical risks but stays rooted in positioning and price structure.<\/p>\n

Is The Bitcoin Bull Run Over?<\/h2>\n

\u201cLooking at the monthly and weekly timeframes, we are still technically in an uptrend,\u201d Bakay VWAP has been respected during the pullback in April.\u201d Despite this, he admits that \u201cthe failure to make new all-time highs similar to the top in 2021\u201d is a concern\u2014especially given the accumulation by players like BlackRock, which now holds around 3.5% of Bitcoin\u2019s total supply.<\/p>\n

It\u2019s that divergence\u2014between strong institutional interest and a market struggling to break higher\u2014that has made Bakay more cautious in recent weeks. \u201cThis is why I have been very defensive and kept most of my trades short-term,\u201d he said.<\/p>\n

His trading view focuses on two potential technical scenarios: either a reclaim of the $100,000 support area\u2014\u201clikely if the conflict in the Middle East does not further escalate\u201d\u2014or a dip into the $97,000\u2013$95,000 range, where strong technical support resides in the form of the 200-day moving average, local price structure, and the 90-day rolling VWAP.<\/p>\n

\"Bitcoin<\/p>\n

Still, Bakay made it clear he\u2019s not shorting the market. \u201cI am not currently considering any short trades due to my current positioning,\u201d he emphasized, adding that open interest is dropping and that we are starting to see the \u201cfirst signs of clear spot bid interest since the April lows.\u201d The options market, meanwhile, is flashing early caution: the 25-delta risk reversal skew sits around -5, not yet at panic levels, but trending more negative.<\/p>\n

Crypto Bull Run In Jeopardy<\/h2>\n

On Ethereum, Bakay was notably blunt. \u201cETH almost had its moment, but of course had to become a disappointment,\u201d he said. He attributes the failed breakout in part to how quickly the \u201cDeFi Summer 2025\u201d narrative went viral. \u201cPeople are getting too horny, and market made sure to punish them,\u201d he noted, referencing his own tweet from a few days earlier.<\/p>\n

The technical picture on ETH doesn\u2019t inspire confidence either. \u201cDuring significant market moves, like we had at the beginning of May, the last thing you want to see is price retracing throughout that area,\u201d he explained, saying the next meaningful support lies near $1,800. On the daily chart, Ethereum is sitting right at a confluence of support\u2014both the 90-day rolling VWAP and what he calls a \u201cpivotal level.\u201d Still, much like Bitcoin, Bakay sees Ethereum\u2019s short-term fate as largely dependent on developments in the Middle East.<\/p>\n

\"Ethereum<\/p>\n

On positioning, ETH also shows signs of an oversold environment, though Bakay believes high volatility in ETH options has caused traders to use spreads instead of outright directional bets. \u201cPositioning is now very clearly pointing towards the possible upside reversal in both perpetual and spot,\u201d he said.<\/p>\n

Altcoins received no reprieve. \u201cAltcoins have not been having fun for quite a while,\u201d Bakay wrote, pointing out that \u201cevery time it starts to look better, it will almost immediately get worse.\u201d He notes that the expected rotation from Bitcoin into altcoins hasn\u2019t materialized, and the real rotation now seems to be into crypto-related equities, which better reflect the ETF-driven macro trade.<\/p>\n

Even strong names like Solana are fading. \u201cSOL has almost retraced the entire rally from April,\u201d he warned. The key level to watch is $100. \u201cThere is not much of a technical support sub-$100,\u201d and if \u201cshit hits the fan,\u201d Bakay would look to bid around that round number.<\/p>\n

\"Solana<\/p>\n

Bakay also briefly touched on two newer altcoins\u2014Hype and Fartcoin\u2014saying one offers a solid product and the other draws interest through volatility and liquidity. \u201cFartcoin would become attractive if it could reclaim the $1 or $0.50 area. Hype could find a bounce sub-$30.\u201d<\/p>\n

His closing thoughts were pragmatic: \u201cWe are not in easy market conditions, with a lot of geopolitical uncertainty, and markets can be significantly affected by a single news release.\u201d While he believes the market may be \u201cgetting too short at the moment,\u201d he remains highly conscious of the possibility that a multi-month correction is already in play. \u201cI don\u2019t think there is a need to be a hero and try to catch a falling knife,\u201d he concluded. \u201cI would much rather wait for some positive news and signs of lower timeframe reversals.\u201d<\/p>\n

In essence, Bakay doesn\u2019t call the top. But his post makes one thing clear: this is not a market for bravado. It\u2019s a time for restraint, tight risk management, and respect for volatility\u2014especially when the bullish case no longer has momentum on its side.<\/p>\n

At press time, BTC traded at $101,847.<\/p>\n

\"Bitcoin<\/p>\n","protected":false},"excerpt":{"rendered":"

With Bitcoin precariously recovering above the $100,000 mark and altcoins bleeding momentum, traders are asking the obvious: Is the crypto bull run over? According to systematic trader Adam Bakay (@abetrade), the answer is not so clear-cut. In a detailed market breakdown posted June 22, Bakay offered a technically grounded, cautiously defensive assessment\u2014one that acknowledges geopolitical…<\/p>\n","protected":false},"author":1,"featured_media":5526,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[56,36,258,1974,43,434,33,1975],"class_list":["post-5525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-bitcoin","tag-crypto","tag-crypto-bull-run","tag-crypto-bull-run-over","tag-crypto-news","tag-crypto-prices","tag-cryptocurrency-market-news","tag-is-the-crypto-bull-run-over"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=5525"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/5525\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/5526"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=5525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=5525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=5525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}