PK Press Club – No matter how deep into the cryptocurrency market you are, Scottie Pippen warns investors about (BTC) bear traps that certainly weren’t on anyone’s bingo card ago one year. But it’s 2025 and it’s a reality.
In his latest article on X, the former Chicago Bulls star and now certified NBA legend warned his followers that the current drop in the price of the leading cryptocurrency is nothing more than a bear trap – an event in financial markets where a drop in price is artificially created to make everyone believe that the asset is about to sell hard and open short, only to short squeeze and liquidate all sellers with a sudden upward movement.
For Pippen, this is a situation where, as he puts it, “they want your Bitcoin and they want your crypto.” Who “they” are is not specified, but the basketball player calls not to “be shaken” by the current fall in prices.
As the chart attached to Pippen’s post shows, those who survive this bear trap can look forward to a period of renewed optimism thanks to rising prices.
All this can lead to a “fear of missing out” among those who did not join the gathering earlier and feel the euphoria. This is when, according to the chart, the Bitcoin price will peak and enter a bearish mode, ending in despair.
It will be interesting to see if Pippen’s predictions come true. If he is right, the market has probably found its new prophet, quite unexpected.
