As Bitcoin and altcoins experienced a significant drop in the past 24 hours, il Capo, one of the oldest analysts in the cryptocurrency industry and generally known for his bearish views, interestingly stated that he supports the bull case, as it currently stands.

In a statement to his followers, Il Capo listed various reasons why he supports the bulls. The analyst said that the fact that the market sentiment is very negative at the moment, Bitcoin (BTC) and Ethereum (ETH) remain strong, the S-1 approval of the Ethereum spot ETF and its start of trading will be in the coming weeks, the altcoin/Bitcoin parity will remain strong, he pointed out that the price is currently at support and there has been no bad news so far, which is a reason in favor of the bulls.
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