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Trader Warns Bitcoin Is in ‘Cancerous Price Action,’ Says One Ethereum-Based Altcoin That’s Exploded 143% in One Month Will Go Higher

CryptoNWZ by CryptoNWZ
June 6, 2025
in Altcoins
0
Trader Warns Bitcoin Is in ‘Cancerous Price Action,’ Says One Ethereum-Based Altcoin That’s Exploded 143% in One Month Will Go Higher

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A extensively adopted crypto analyst is warning merchants to keep away from Bitcoin (BTC) within the brief time period, whereas updating his outlook on a surging Ethereum (ETH)-based altcoin.

In a brand new thread, pseudonymous crypto dealer Altcoin Sherpa tells his 247,600 followers on the social media platform X that the highest crypto asset by market cap has seen “cancerous” worth motion throughout the previous couple of days.

“Cancerous worth motion for BTC the previous couple of days, higher to keep away from the market if in energetic trades (not possible).”

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Supply: Altcoin Sherpa/X

In keeping with Sherpa, the flagship digital asset might dip down to the low $104,000 vary if it loses its present assist degree.

“Nonetheless uneven, no actual momentum in both course proper now. Nonetheless lengthy however fairly small measurement (nonetheless have spot). Wouldn’t be shocked to see the low $104,000 at this level if present degree doesn’t maintain for BTC.”

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Supply: Altcoin Sherpa/X

BTC is buying and selling for $104,549 at time of writing, a fractional lower on the day.

Transferring on to the S&P 500-based parody memecoin SPX6900 (SPX), the analyst says that its chart seems wholesome and that the asset ought to proceed its upward ascent so long as BTC stays secure.

“I don’t care what you folks say, that chart is fairly rattling unbelievable given the circumstances. This one goes greater within the mid-term so long as BTC is secure, for my part.”

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Supply: Altcoin Sherpa/X

SPX is buying and selling for $1.18 at time of writing, a fractional lower on the day. On Could seventh, it was valued at simply $0.477.

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Disclaimer: Opinions expressed at The Every day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses chances are you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in affiliate internet marketing.

Featured Picture: Shutterstock/badrus soleh/Sensvector

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