According to TechFlow, Lark Davis, a well-known cryptocurrency analyst, announced that he has sold part of his crypto asset portfolio. Davis cited three main reasons:
One is the concern that loans secured by Bitcoin and Ethereum face liquidation risk;
Second, crypto assets account for too high a proportion of its net assets, and cash holdings are insufficient;
The third is for capital protection considerations.
Although there may be buying opportunities in the current market, Davis said that he could not seize them due to lack of cash. He emphasized that he still retains a large number of cryptocurrency positions and is optimistic about the market in the long term, but needs to reduce the pressure of large position management and loan liquidation risks. Davis reminded investors to pay attention to the uncertainties brought about by the Japanese market, the US market and the situation in Iran, and said that he might buy again after the market shows clear strong signals.