Top Traders Turn Bearish on Bitcoin and Ethereum in Sudden Sentiment Shift

Crypto traders have abruptly shifted from bullish to bearish, warning of Bitcoin downside and possible massive Ethereum liquidations amid growing market uncertainty.

In a dramatic turnaround from last week’s overly optimistic outlook—where Bitcoin targets soared to $300,000—many of crypto’s most influential traders are now sounding alarm bells, warning of heightened risk for both Bitcoin (BTC) and Ethereum (ETH).

Bitcoin, which was recently trading within the $112,000–$124,000 range, slipped nearly 3% overnight to about $115,000. Ethereum fared worse, falling 5% to roughly $4,317, though it still sits about 21% higher than a month ago.

Andrew Kang, a prominent once-bullish trader, is now cautioning about billions of dollars in potential losses from ETH liquidations, amplifying concerns of a sharp sell-off.

Combined anxiety over the Federal Reserve's uncertainty regarding rate cuts and a wave of validator exits has intensified the negative mood in the market.

The sudden reversal in attitude is striking: only a short while ago, optimism was so high that Bitcoin’s potential to reach $300,000 was a mainstream trading narrative. Now, risky scenarios loom, with some traders suggesting Ethereum may retrace toward $2,000 if sentiment deteriorates further.