Pseudonymous millionaire trader Unipcs cautions that talk of a crypto cycle top is overblown and urges traders to maintain a long-term perspective.
What Happened: Unipcs highlighted that 25%–30% corrections in Bitcoin BTC/USD during bull runs are normal, and the recent 19.6% pullback falls well within historical ranges.
Even a drop to $88,000 would not be unprecedented, though he doesn't expect it.
The reaction of Bitcoin and altcoins after the massive Oct. 10 liquidation event further supports the view that the cycle has not topped.
Unipcs stated that despite losing eight figures personally and witnessing $40 billion wiped out, Bitcoin has largely stabilized between $108,000 and $114,000.
Stronger altcoins like USELESS and BNB even hit new all-time highs, a behavior inconsistent with a true cycle top.
In another X post, hey notes that extreme crypto pessimism, claims it's "done" and calls to shift to stocks, often signals a buying opportunity, with dips offering the best upside.
Also Read: Bitcoin, Ethereum Whales Bet On Upside: What Do They Know?
Why It Matters: Unipcs points to crypto's weak performance relative to gold and stocks as evidence of a cycle top.
While gold and certain stocks like Beyond Meat have surged, Bitcoin has appeared stagnant.
The trader argues this is not unusual as crypto has often lagged broader markets before subsequently outperforming them.
Short-term correlations with other assets are often misleading, as crypto tends to move later but more aggressively.
The trader concludes that, despite frustration over crypto's temporary underperformance, all the key signs point to this being an ideal time to aggressively accumulate Bitcoin and high-conviction altcoins in anticipation of a strong upcoming rally.
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