Wall Street veteran, prominent Bitcoin blogger and popular YouTuber Tone Vays is ready to open long positions on the orange coin once again. Meanwhile, in a rare pattern, Bitcoin's performance over the past 24 hours has brought enough pain for both bulls and bears.

Bitcoin (BTC) hits $100,000, and Tone Vays is back in buy

Lead trader Tone Vays is back to buying Bitcoin (BTC) at current prices. In his latest post on X, he announced his return as Bitcoin (BTC) once again attempts to hold above $100,000.

Vays exited all of his long positions in Bitcoin (BTC) in late November 2024. He doubted whether Bitcoin (BTC) could reach a six-figure value by the end of 2024. He also wondered if the "Buy The Dip" opportunity under... $90,000 was real.

Since his previous statement, Bitcoin (BTC) reached $108,000 on December 17 and never reached below $90,000 again. Recorded on December 31, $92,500 was the local bottom of Bitcoin's (BTC) recent correction.

As previously covered by U.Today, five years ago, Tone Vays astutely described the $3,200 BTC collapse on BitMEX on Black Friday, March 13, 2020, as the bottom of the 2018-2020 crypto winter.

Tone Vays, former Vice President at JP Morgan Chase, is also known as a vocal critic of altcoins, “yield farming,” forks of Bitcoin (BTC), Ripple, XRP, ICO, etc.

$212 Million Liquidations Hit Crypto Market, Bulls and Bears Alike Suffer

Meanwhile, Bitcoin (BTC), the largest cryptocurrency, is finally trying to consolidate its positions above the $100,000 level. In the last 24 hours, its capitalization increased by 2%. The largest cryptocurrency is trading at $100,547 as of press time.

On lower time frames, its price formed a textbook example of the “Bart Simpson pattern.” As a result, its price rose from $99,000 to $102,200, but then dropped to $100,500.

Thanks to the high trading volume, these fluctuations caused a lot of pain to the bulls and bears. Out of $212 million Filtering operations in encryptionThe short and long positions are worth $106 million each, which is very rare, according to CoinGlass data.