Bitcoin Surges 3.5% to $111,880, Market Cap Nears $2.2 Trillion

Changpeng Zhao, the founder of Binance, recently shared his perspective on the recent sell-off of Bitcoin at $77,000. He advised investors who sold their tokens at this price point that they missed out on significant profits. Zhao's advice to these investors is to focus on long-term gains rather than short-term volatility. He emphasized the importance of looking at yearly charts to promote patience and a long-term view amidst market fluctuations.

Zhao's comments come at a time when Bitcoin has experienced notable price movements. He urged investors to adopt a more patient and strategic approach, suggesting that those who sold their Bitcoin at $77,000 should consider the potential for future growth. His advice underscores the importance of a long-term investment strategy in the volatile cryptocurrency market.

The founder of Binance also expressed sympathy for those who sold their Bitcoin at $77,000, acknowledging the emotional impact of such decisions. He encouraged investors to remain steadfast in their long-term goals and to avoid being swayed by short-term market movements. Zhao's message is clear: patience and a long-term perspective are key to navigating the cryptocurrency market successfully.

Zhao's advice is particularly relevant in the current market environment, where Bitcoin has seen significant price fluctuations. By focusing on yearly charts, investors can gain a broader perspective on the market's trends and potential for growth. This approach helps to mitigate the impact of short-term volatility and encourages a more strategic investment mindset.

In summary, Changpeng Zhao's advice to investors who sold their Bitcoin at $77,000 is to adopt a long-term view and focus on yearly charts. His message emphasizes the importance of patience and strategic thinking in the cryptocurrency market, encouraging investors to remain steadfast in their goals despite short-term volatility.

Bitcoin recently hit a new all-time-high after it rose nearly 3.5% to $111,880. Bitcoin’s market cap is now approaching $2.2 trillion, surpassing Amazon. Amid these exciting times, Binance former CEO Changpeng Zhao was quick to react to Bitcoin’s all-time high. According to him, investors who sold their tokens when the price was $77,000, missed out on big profits. He also had advice and suggested looking at long-term trends instead of getting caught up in short-term price changes. Investor Fred Krueger shared that once the $110,000 level is breached, there won’t be any blocking and it will be a smooth path straight to $150,000.

As Bitcoin broke past the $110,000 mark, spot ETFs recorded big gains. Investors poured in new capital, pushing the total net asset value of all BTC spot ETFs to $129.02 billion. The demand is not just from crypto funds or retail traders, as public companies are now looking at BTC as a treasury asset. The big institutions are fueling the Bitcoin rally and the trend may continue. May alone saw $3.6 billion net inflows in ETFs.

QCP traders shared that a breakout to further highs may spark fresh FOMO and bring retail investors back which will push the prices higher. Ryan Lee from Bitget predicts Bitcoin could surge to $180,000 by year-end, driven by strong spot ETF inflows, slower supply after halving, and rising institutional adoption. He highlights Moody’s recent U.S. credit downgrade as a major catalyst, that has boosted Bitcoin and Ether’s appeal as safe havens against fiat risk.

Expert Benjamin Cowen points out that today is Bitcoin’s golden cross, a bullish signal where the 50-day moving average crosses above the 200-day moving average. It remains to be seen if this could push BTC to hit $113,000 next. The Golden Cross is expected around May 22–23. Historically, this move often leads to a 10–15% pullback, even in strong bull markets. If Bitcoin dips but holds above $95K, then the uptrend will likely continue. But if it fails to break above $110K again by mid-June, then we could see a weaker Q3 and a possible retest of lower support levels. Analyst Ali Martinez shared that Bitcoin is hitting new all-time highs and entering price discovery mode. He shared that the next key levels to watch are $116,000, $126,000, $136,000, and $148,000.