The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Markets Ready for Santa Rally? Top Trader Predicts When BTC and Digital Assets Will Ignite Recovery

by Daily Hodl Staff
December 19, 2021
in Bitcoin, Trading

A widely followed trader is having a close look at the state of Bitcoin to determine when the leading cryptocurrency can launch the next leg of its bull cycle.

Top crypto trader Light dissects the sell-side catalysts that pushed Bitcoin (BTC) from the all-time high of around $69,000 to its 30-day low of $42,874.

According to Light, objective market participants began to sell their holdings after bulls showed signs of exhaustion around BTC’s all-time highs.

“Yet as people were maximally bullish, momentum flagged, price failed to continue, and then came back below the high. Objective observers’ caution turned into derisking, and those not swept up in the euphoria of new highs sold billions upon billions of inventory in the $60,000s on BTC.”

Image
Source: Light/Twitter

While traders and investors lock in gains, Light adds that funds that already made big money this year also took profits.

“After the year of years that was 2021 for funds everywhere, eyes turned to protecting annual bonuses, selling to harvest 20% carries, and covering redemptions from LPs looking to take some off the table.”

Lights tells his 103,300 Twitter followers that the increasing selling pressure on an already weak market ignited a sell-off that saw BTC print a $10,000 red candle in the daily chart.

“Liquidity deteriorated, and finally a trivially predictable 25% cascade down in BTC put the fear of god in an overleveraged market.”

Image
Source: Light/Twitter

According to Light, the massive drawdown has driven retail traders into a panic. But just as they are looking to exit the BTC market, the trader says investors who sold at the top are now looking to reaccumulate BTC.

“Whereas bulls have been cautious, bears have taken to aggression, pushing perpetuals basis negative on some venues and building [open interest], while the large players who derisked in the $60,000 area have reversed course and begun to absorb panic and short-selling.”

Image
Source: Light/Twitter

In addition, Light says that funds are nearly done selling and are now armed with cash to place buy orders in January.

“BTC has pulled back 35%, reaching a historical value area, while leverage has returned to constructive levels, and participants once again have cash. It’s the bears that will likely turn out to be stoneless soon enough.”

The crypto trader concludes that events are lining up for a strong crypto recovery next month as he also sees selling pressure from Asia abating by the end of the year.

“Asia selling has driven market, which will ease after end of year when Huobi/OKEx have removed majority of mainland users… End of year and then blue skies.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Digital Storm

Submit a Press Release

Industry Announcements

  • Meta Earth Network 2.0 – Pioneering Web 3.0 Innovation With Rewards and Global Events
    June 20, 2025
  • Perceptron Network Merges With BlockMesh To Create First End-to-End Decentralized AI Data Infrastructure
    June 20, 2025
  • Bubblemaps Integrates With TON, Enhancing Transparency in Telegram’s Native Blockchain Ecosystem
    June 19, 2025
  • NATIX Network Launches DePAI Initiative, Merging DePIN Infrastructure With Decentralized AI
    June 19, 2025
  • BitVault Raises $2 Million From GSR, Gemini and Auros To Launch BTC-Backed Money
    June 18, 2025
  • TAC Raises $11.5 Million To Bring DeFi to Telegram’s Billion-User Ecosystem
    June 18, 2025
  • Falcon Finance Launches Pilot Season of Falcon Miles Points Program To Reward Ecosystem Participants
    June 18, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$100,654.97
$100,654.97
2.83%
Ethereum
$2,197.03
$2,197.03
9.25%
BNB
$617.34
$617.34
3.12%
Solana
$128.71
$128.71
8.53%
XRP
$1.96
$1.96
7.2%

Spotlight

  • Walmart, Amazon and Other Multinational Giants Considering Issuing Stablecoins: Report
    June 15, 2025
  • 65-Year-Old Forced Out of Retirement After Losing ‘Everything’ in Elaborate Bank Fraud Scam
    June 15, 2025
  • Crypto Strategist Warns of up to 80% Bitcoin Correction in Next Bear Market Fueled by Selling of Major BTC Adoption Group
    June 15, 2025
  • Woman To Serve Four Years in Prison for Role in $800,000 Business Email Hack That Tricked Victims Into Sending Fraudulent Bank Wires
    June 15, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl