American investor Steve Weiss has further reduced its bitcoin exposure due to the range-bound price movement of the property.
Speaking as a contributor CNBC’s “Halftime Report“Weiss revealed another round of taking advantage of his bitcoin (BTC) position through Blackrock’s Spot Exchange-Treded Fund, as the financial markets navigate the macro-powered instability.
Weis, founder and managing partner of Short Hills Capital Partners, said that after 20% of the last week, he cut his bitcoin exposure by an additional 10%. The size of their position is not clear, but he first described his bitcoin investment as “positive business”.
The investor cited uncertainty in financial markets due to trade wars and tariffs imposed by the Trump administration. He said that Crypto markets have stayed in this environment and their next step requires a catalyst. He said:
Bitcoin is a risk property. We saw that when the futures went up in the premarket and now it is down … it goes through these consolidation periods and I think it can be one of these periods, as long as we have the new heads of SEC Do not get specific laws/rules.
Acting President of US Securities and Exchange Commission, Mark Uyda announced the agency’s intentions to work with the industry to remove the Crypto regulator confusion and clarify the rules. Whereas in the early days of the Trump era, the SEC of Uyda has launched a dedicated Crypto Task Force and overhale the Crupto Crime-fighting unit of the Commission.
Securities Watchdog also abolished litigation against Coinbase, Opeensia and Robinhood. Many people hope that the SEC will officially leave its case against Benance.
Somewhere else in the crypto markets, bitcoin dropped under $ 95,000, as the press time is about 2% in 24 hours. The comprehensive crypto market also sheds the value, falling to about $ 3.2 trillion. A note shared by Ryan Li, the chief analyst of Bitgate Research, identified two major levels for a possible uptrend or more negative side.
Bitcoin is trading around $ 96,000 by 24 February 2025, with an estimated range of $ 92,000 to $ 105,000 this week. Its movement largely depends on whether it can break the $ 100,000 resistance or break the retrace in support of $ 94,000. Technical indicators present mixed indications, with a short -term rapid pace with long -term market uncertainty.
Ryan Li, Chief Analyst of Bittgate Research
