Bitcoin may only reach the $150,000 mark once two major whales finish selling, according to David Bailey, CEO of Bitcoin holding company Nakamoto.
Bailey said in an X post on Tuesday that the “only reason” Bitcoin is not already at $150,000 is due to selling pressure from two large holders.
“Once they’re slain (1 down, 1 halfway there)… up only,” Bailey wrote.
Whale Activity Pressures Bitcoin
Bitcoin is currently trading at around $110,240, down nearly 3% over the past month. A move to $150,000 would represent a 36% increase from current levels.
Large whale transactions have rattled the market in recent weeks:
On Aug. 21, a whale sold around $4 billion worth of Bitcoin, rotating into Ether after holding for more than five years.
On Aug. 24, another whale sold 24,000 BTC worth $2.7 billion, sparking a flash crash that liquidated $500 million in leveraged positions.
Analysts See Upside Beyond $150K
While Bailey points to $150,000 as the next major milestone, other analysts are even more bullish.
Steven McClurg, CEO of Canary Capital, sees a greater than 50% chance of Bitcoin reaching $140K–$150K before the next bear market.
Alex Thorn, head of research at Galaxy Digital, projects Bitcoin could trade between $150K–$180K by the end of 2025.
Arthur Hayes (BitMEX co-founder) and Tom Lee (Fundstrat co-founder) have both suggested Bitcoin could rise to $250K before year-end.
Market Sentiment
The Crypto Fear & Greed Index recently slipped into “Fear” before returning to a neutral reading of 49 this week, reflecting ongoing uncertainty as whale selling and macroeconomic factors weigh on sentiment.