Bitcoin Trader Sees Another Leg Up Imminent
Bitcoin's recent price action has been closely watched by traders and investors, and one prominent crypto trader believes that another leg up is imminent. DonAlt, a well-known figure in the crypto space, made this prediction on X on August 31.
The comment comes as Bitcoin heads into September after experiencing an unusually strong August and a powerful third-quarter recovery. The largest cryptocurrency has risen sharply from its earlier low of around $64,700, with recent price action showing BTC consolidating near $78,000 after briefly approaching the $81,000 region.
Despite a nearly 6% intraday decline following Federal Reserve governor Kevin Warsh's more hawkish tone, Bitcoin held strong at around $77,100. This resilience is seen as evidence that buyers remain active below the $78,000 level.