NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

A Top Crypto Trader is Selling His Altcoins Due to These “Red Flags”

Nick Chong
Nick Chong
5 years ago
3 mins read
crypto altcoins

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Altcoins — crypto assets that are not Bitcoin — have done extremely well over the past four weeks.

Per data from TradingView.com, after reaching 68%, Bitcoin dominance — the percentage of the crypto market that consists of BTC — has fallen to 64%. It’s a 4% drop that amounts to billions in this multi-billion-dollar asset class.

crypto performance vs. bitcoin
Chart from TradingView.com

This move has been led by largely fundamental rallies in a number of large-cap altcoins, such as Chainlink, which was recently subject to an influx of positive news regarding its adoption, and Tezos, whose foundation was recently confirmed to have a strong balance sheet that should be able to weather any economic recession or downturn in the crypto market.

A prominent crypto trader, however, is starting to deleverage his altcoin positions, citing the fact that there are “red flags” appearing in this side of the Bitcoin market.

This Crypto Trader Isn’t Convinced of Altcoins: Here’s Why

In a recent Twitter thread, a crypto trader with the moniker of “Pentoshi” announced that he will be reducing his exposure to altcoins by 75% for the foreseeable future, remarking that he intends to focus on Bitcoin moving forward.

Why?

He explained that despite the strength seen in many altcoins over the past few weeks, he believes it’s unwise to be investing in non-Bitcoin assets so close to the halving, which has the potential to rapidly increase BTC volatility. This volatility, he explained will result in “alts [getting] rekt.”

Pentoshi continued that from how he sees it, altcoins are always a “game of musical chairs” as the reasons they are rallying, he wrote, are all predicated on “red flags” as opposed to legitimate fundamentals:

“The reason the alt pumps are unconvincing is because they have followed the same patterns. IEO’s, Interoperability, privacy coins moving together. It’s coordinated as it has been the last 3 years instead of all ships rising together.”

Related Reading: No, Kim Jong Un’s “Vegetative State” Won’t Cause a Bitcoin Crash

He’s Not the Only One

Pentoshi is far from the only investor hesitant to deal with altcoins in this environment.

Per previous reports from NewsBTC, Dan Morehead — a former Wall Street trader-turned-head of Pantera Capital, one of the earliest crypto funds — wrote in their March newsletter that Bitcoin will “probably out-perform other tokens for a while,” explaining that it is one of the crypto projects that are entrenched and doesn’t rely on funding per se:

It’s a project that’s already built, it works, it has an 11-year track record. Many newer blockchain and smart contract projects are still in development and might be stressed to raise funding to complete their development.

He further explained that “there’s typically a flight-to-quality” in bear markets that see money flood to the safest and most established asset in an asset class. In the case of crypto, that’s Bitcoin.

Bitcoin flight to safety
Chart from Dan Morehead of Pantera Capital (Medium)
Related Reading: There’s a Brutal Twist Behind $1 Million Bitcoin Price Predictions
Photo by Laura Lee Moreau on Unsplash
Tweet123Share212ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Ethereum Rips Through Thin Zone: A Loud Move After Weeks of Silence

After weeks of whisper-quiet consolidation, Ethereum has finally found its voice, roaring through a historically thin price zone with conviction....

Godspower Owie 1 hour ago

How a Single Burn Sparked a Frenzy: $FUN Skyrockets Towards 500% After 25 Million Tokens Burn

Few events in crypto can ignite a market rally quite like a well-timed burn. For FUNToken, the June 24 announcement...

NewsBTC 2 hours ago
Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

Altcoin season start doordat Ethereum boven presteert en Bitcoin dominantie daalt

De cryptomarkt staat er goed voor de komende tijd. Een heuse altcoin season ligt op de loer, terwijl Bitcoin dominantie...

Lars Diederiksen 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

XRP Becomes Top 3 Crypto After ProShares ETF Approval, Can It Flip ETH?

Scott Matherson 24 minutes ago

Deepseek crypto prediction despre proiecte cu potențial

Elvira C. 44 minutes ago
MicroStrategy

Beyond MicroStrategy: Top 10 Crypto Treasury Stocks to Monitor

PR Desk 1 hour ago

Premium Sponsors

Press Releases

  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    2 rendkívül magas árfolyamú kriptovaluta, amelyeket...

    8 minutes ago
  • 2 криптовалути с небесни оценки...

    3 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    3 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    ...

    3 hours ago
  • 新しい仮想通貨|ビットコインの強気相場に乗るための注目トークン

    ...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.