Popular trader and economist Alex Krüger says he’s currently “max long” on the crypto market.
Krüger tells his 173,800 followers on the social media platform X that he’s hedged and unhedged multiple times but he’s now max long in “very concentrated positions.”
The economist notes that he’s looking to “de-risk” soon. However, he acknowledges that Bitcoin (BTC) could drop as low as $52,000 after plunging below $59,000. BTC is trading at $57,093 at time of writing and is down more than 4.5% in the past 24 hours.
Explains Krüger,
“I’m not immune to bear raids. My bigger picture view has not changed: new ATHs later in the year (for Bitcoin). End-of-cycle views make little sense to me. A correction was to be expected.”
The economist also notes that he has positions in the layer-1 blockchains Solana (SOL), Toncoin (TON), Aptos (APT) and Core (CORE), as well as the decentralized data storage protocol Arweave (AR) and Bittensor (TAO), a decentralized blockchain platform that focuses on machine learning and AI.
Krüger adds that APT, CORE, AR and TAO are “much higher risk” than SOL and TON.
The economist also notes that Bitcoin had a bearish response to Wednesday’s U.S. Federal Open Market Committee (FOMC) statement.
“Very rare for price to reverse in full right after the press conference is over. And bearish, as the FOMC was dovish. And now you have trapped intraday longs. The one silver lining is BTC is trading in line with equities.”
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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.
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