Bitcoin Below $100,000 — Veteran Trader Shares Profit-Taking Strategy

Pseudonymous cryptocurrency trader Jelle shared his portfolio strategy in light of Bitcoin (CRYPTO: BTC) approaching $100,000 and Solana (CRYPTO: SOL) making a new all-time high.

What Happened: The trader took to X to outline his plans for capitalizing on the uptrend of major cryptocurrencies.

Bitcoin:

Gradually reducing BTC holdings by 1% weekly, increasing to 2% weekly after Bitcoin surpasses $100,000. This ensures exposure to gains while mitigating risk as volatility rises.

• Taking profits with a 10% sell-off at peak levels, followed by 2% weekly reductions.

Solana:

Entered SOL at $20, sold 10% at the all-time high break and will continue reducing the position by 2% per week.

Ethereum:

Plans to start taking 10% profits when ETH reaches new all-time highs and reduce his position 2$ per week subsequently.

Also Read: Why Bitcoin's Rally Is Stalling Below $100,000

Why It Matters: Jelle emphasizes reducing risk as markets grow more volatile, capitalizing on growth opportunities, and prioritizing profitable outcomes for this cycle.

His approach encourages other traders to adopt disciplined strategies for managing gains and minimizing potential losses.

Key advice includes funneling profits directly into savings or reinvestment to secure financial wins. “It’s time to make some money. Let's make this cycle count,” Jelle concluded.

The global cryptocurrency market surpassed $3 trillion, with Bitcoin dominance at 57.8%, according to CoinMarketCap. The top ten crypto coins over the past 30 days (highest gains) include altcoins, meme coins and blockchain based tokens.

Among the top-performing cryptocurrencies over the past 30 days are: Peanut The Squirrel (CRYPTO: PNUT), Stellar (CRYPTO: XLM) and Dogecoin (CRYPTO: DOGE), Cardano (CRYPTO: ADA) and The Sandbox (CRYPTO: SAND).

Read Next: 

• Bitcoin’s Bull Run: Betting On A $125K Finish To 2024

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