Paul Barron brings on trader Gareth Soloway to explain why crypto is pumping, and why he still thinks this is a tradeable bounce, not the start of a new bull market.
Key Points
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BTC: Flush to ~60K, big reversal candle, then tight consolidation, classic squeeze setup. Target 80K to 85K.
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Sentiment was extremely bearish, that often fuels short squeezes.
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Politics: no crypto mention was a relief, market feared worse.
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Bigger risk: he’s still bearish later if stocks roll over, flags private credit stress + AI bubble as catalysts.
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S&P 500: rounded top, institutions selling into retail buying, expects downside later.
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ETH: short-term breakout play, target 2.6K to 2.8K, heavy resistance. If BTC dumps, ETH could revisit ~1.5K.
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SOL: prefers SOL for speed, targets ~111 to 120.
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Other levels: SUI break ~1.03 then ~1.34 to 1.35, AVAX reclaim ~9.8 to 9.85 then ~11.35, XRP resistance ~1.60 to 1.95, big move above ~2.00.
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Friday summit headline risk, volatility into the weekend.
Final Takeaway
Trade the bounce, don’t marry it. Upside targets first, but he expects another bigger drop later if macro and stocks crack.
