Veteran Trader Says Bitcoin’s Time to Hold Is Over and Cashes Out Half of Portfolio
Veteran Trader Says Bitcoin’s Time to Hold Is Over and Cashes Out Half of Portfolio
As Bitcoin (BTC) abruptly lost the $70,000 level, spreading fear across the market, attention is turning to the unconventional survival strategy of a veteran trader who has liquidated half of his assets and shifted to a wait-and-see stance.
Miles Deutscher, a veteran trader and host of the cryptocurrency-focused YouTube channel Miles Deutscher Finance, said in a video uploaded on February 5 (local time) that “Bitcoin has given up the $70,000 level, its 2021 all-time high, causing both technical and psychological support to completely collapse.” He pointed to the market’s recognition that major bullish catalysts—such as the approval of spot Bitcoin ETFs and the election of Trump—have already been priced in, leading to a disappearance of incremental buyers, as the core cause of the current crisis. In particular, early investors and whales are selling in tranches, while new institutional entries have slowed, deepening the supply-demand imbalance.
To adapt to the changed market environment, Deutscher said he is holding 45–50% of his portfolio in cash and maintaining a strictly observant posture rather than pursuing aggressive buying. He emphasized that “it is essential to move away from the old approach of buying simply because prices have fallen and to preserve capital until a clear upward momentum in the market is confirmed.” He also warned that the so-called ‘hodl at all costs’ approach—unconditionally holding long-term—can rapidly erode asset value in a downturn like the current one, urging rigorous risk management.
He offered an even harsher assessment of the altcoin market. Deutscher analyzed that “venture capital funds are rapidly moving away from crypto and into artificial intelligence (AI),” adding that “we must face the structural shift in which even miners are reallocating computing resources to AI workloads due to declining profitability.” He continued, noting that “community trust in most altcoins lacking real utility has hit rock bottom,” and added that “the era when all altcoins rose together is over, making selective investment and sophisticated trading approaches necessary.”
Risk signals are also clear from a macro perspective. The Nasdaq index has broken out of its upward channel and is setting lower lows, while doubts about the profitability of AI investments by major tech companies such as Microsoft are fueling broader risk-off sentiment across technology stocks.
Meanwhile, at the end of the video, Deutscher also mentioned a pessimistic scenario, saying that “if a correction in the stock market fully unfolds and Bitcoin fails to hold the $60,000 level, the entire market could enter a prolonged downturn.”
Disclaimer: This article is for investment reference only, and no responsibility is taken for investment losses based on this information. The content should be interpreted solely for informational purposes.
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