Crypto influencer and trader Carl Runefelt, known as “The Moon,” said he sold two Ferraris worth a combined $2.5 million to increase his exposure to Bitcoin (CRYPTO: BTC).

Historically Significant Support Zones

In a podcast on Friday, trader Runefelt argued that Bitcoin is approaching one of its most historically significant support zones.

He pointed to the 200-week moving average, a long-term technical indicator that has previously coincided with major market bottoms.

Runefelt said he views BTC’s current decline as a rare accumulation opportunity.

The average reflects Bitcoin’s average price over approximately four years, broadly aligning with the cryptocurrency’s halving cycle.

Rather than entering his entire position at one price,…