Crypto NewsAnalysis'Big Bear Analyst' il Capo Shares Levels He Claims BTC Price Will...

‘Big Bear Analyst’ il Capo Shares Levels He Claims BTC Price Will Go After Bitcoin Spot ETF Approvals

Cryptocurrency analyst il Capo of Crypto, known for his bearish statements, announced his predictions for the Bitcoin price.

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Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, published a statement about the price movements he predicts will occur before and after the approval of Bitcoin spot ETFs.

According to the analyst, there will be a pump wave in the market with the news that Bitcoin Spot ETFs have been approved. However, il Capo claims that there will be a reversal in the price a few days after the approvals and the decline will begin when ETFs start trading.

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According to the analyst, BTC whales are showing strong interest in the $48,000 to $50,000 range. il Capo said that ETF approval news could trigger high volatility, causing very large candle wicks on the charts. According to the analyst, a pump between $48,000 and $50,000 followed by a major rejection from here seems like a possible scenario.

Il Capo, known for his bearish statements, claims that following the ETF approval news, the “sell the news” scenario will occur and there will be a drop between $30,000 and $31,000 in the first place. Then, it targets a temporary rise between $ 35,000 and $ 36,000 and then $ 12,000 with “capitulation”.

*This is not investment advice.

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