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- Steve Muchoki
Steve Muchoki
- Nov 18, 2025 22:37 UTC
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Dave Portnoy Buys Bitcoin, Ethereum, and XRP Amid Signs of Potential Crypto Rebound
Bitcoin led the broader cryptocurrency market in a mild rebound amid widespread fear of further capitulation.
The gradual return of whale investors has rejuvenated the potential for a crypto market rebound.
The altcoin market has remained strong relative to Bitcoin in the recent selloff.
Dave Portnoy, the founder of Barstool Sports, has bought the crypto dip with over $2 million. Portnoy said that he purchased $1 million worth of XRP, $400k worth of Ethereum (ETH), and $750k worth of Bitcoin (BTC) on Monday, November 17, 2025.
“Last night I bought $2,000,000 in crypto. When there’s blood in the streets, I’m like a Great White Shark,” Portnoy said.
Is Crypto Ready for an End-of-Year Bull Run?
Santiment vouches for a crypto market rebound amid the capitulation of retail investors
According to Santiment, the crypto market is nearing its bottom and on the verge of a bullish rebound. Santiment pointed out that retail traders – focused on Bitcoin, XRP, and Ethereum – have been capitulating.
Source: Santiment
In the past, Santiment has noted that the capitulation of retail traders has been a sign of potential crypto market recovery.
Dead-cat rebound traits: Bitcoin and altcoins signal potential midterm weakness
BTC vs Gold
Bitcoin has continued to correct against gold in the recent past. Amid the anticipated capital rotation from gold to Bitcoin, market analyst Kevin Wadsworth, noted that the Bitcoin price against gold must rebound in the coming weeks to avoid losing its 8-year support line.
Source: X
The Altcoins are still trapped in a mid-term correction amid the spot ETF bonanza
The wider altcoin market has yet to form a bullish reversal pattern amid the ongoing listings of spot crypto ETFs in the United States. For the XRP price, crypto analyst Ali Martinez believes it may drop as far as $1.9 before rebounding towards its all-time highs.
Source: X
Bigger Picture
The crypt market has underperformed other major global commodities due to macro backdrop uncertainties. The wider crypto market suffered low fresh capital inflow from whale investors during the longest United States government shutdown, which recently ended.
With the recent bilateral agreement between China and the United States, among other major economies, global economic activities are expected to surge. Furthermore, the global money supply has been increasing and will accelerate once the Fed’s Quantitative Easing (QE) starts early next month.
As such, market traders are anticipating a fresh crypto bull market in the coming few months, akin to the crypto summer of 2017.
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