Time to Sell Crypto? Trader Who Lost Millions Warns: “Bitcoin Will Hit $28K, Liquidity Is Dead”
A trader who goes by the name “xet” posted a devastating thread on X today. He says he has lost millions of dollars and is quitting crypto forever. His message is a loud warning.
He claims Bitcoin will hit $28,000 soon, that liquidity is dead, that influencers are broke, and that the entire crypto game is finished. The thread is raw, emotional, and brutally honest.
But is it a genuine warning or the peak of bear market despair?
What you'll learn 👉
xet’s Warning: “We Are Not Even in a Bear Market Yet”
xet starts by explaining his background. He joined crypto during the first bear market many years ago, when Bitcoin crashed 85% and many altcoins disappeared forever. He experienced the second bear market when FTX and Luna collapsed. But he says this current environment is completely different from the last two bears. He is not even talking about price action — he is talking about the structure of the market itself.
His most striking claim: “We are not even in a bear market yet btw, BTC will be at 28k soon.”
He argues that crypto’s image and reputation are destroyed. Liquidity is split between too many different sectors. You cannot scroll any social media platform without seeing gambling ads or prediction platforms. Influencers constantly promote gambling, and they do it to get paid, not because they are actually making money trading. He calls them out directly: “these guys genuinely have NO money. NO MONEY.”
He says degenerate liquidity is now split between 10 prediction platforms, 1,000 gambling websites, and 10,000,000 memecoins. During the last bear market, it was one platform, 100 websites, and 10,000 memecoins. Even if liquidity remained the same, it has now split another 10x. There is no liquidity left to satisfy everyone.
i have lost it all ( millions of dollars ) and im quitting crypto forever. all i ask for is 2 minutes of your time before you lose it all as well.
— xet (@xet) June 21, 2026
i joined crypto during the first bear market many years ago, when bitcoin crashed 85% and many alts disappeared forever. back then…
The Meme Coin Casino: Hidden Bundles and No Buy Pressure
xet is especially critical of the current meme coin environment. He says he has made tens of 500x and 1000x calls in the past, but what he sees now is just destruction. “Taking a piss, coming back 5 minutes later and seeing a token at -80% in SECONDS.” He argues that every token has hidden bundles that nuke 24/7, and there are millions of old tokens. There is simply no liquidity to make everyone happy.
He directs specific criticism at Solana traders: “You guys really think there will be another run? Who is coming to bid your tokens? Are you absolutely blind?” He points to Ansem posting about pump.fun fees and low market cap tokens as the ultimate top signal for Solana. He acknowledges Ansem pushes real belief, but bundlers won’t listen.
Real community members are out of money because bundlers took everything. Each shill will get less and less eyes.
His conclusion for developers is harsh: “Legit developers get destroyed because there is no buy pressure after the first 8 hours of a project, while bundlers keep winning because they control the narratives. Real builders get farmed and forgotten.”
His final words: “The game is finished.”
Read also: ChatGPT Predicts Bitcoin Price if New U.S.-Iran Peace Roadmaps Succeed Within 60 Days
Our Opinion: Frustration at the Peak of the Bear Market
xet’s thread is undeniably emotional. He admits he lost millions. That kind of loss changes a person. It is understandable that he sees the market through a lens of pain and frustration. Many of his points are valid: liquidity is fragmented, meme coin launches are predatory, influencers are often broke, and the current environment is brutal for retail traders.
However, we have seen these kinds of “it’s over” posts at the bottom of every bear market. In 2015, people said Bitcoin was dead. In 2018, the same. In 2022, after FTX collapsed, many declared crypto finished. And yet, the market survived and thrived. That does not mean xet is wrong about the current pain, but it does mean his $28,000 Bitcoin call is an extreme view.
The structural issues he points out; liquidity fragmentation, meme coin toxicity, predatory bundlers – are real. The meme coin casino has become a destructive force. But institutional adoption is also real. The CLARITY Act is moving forward. ETF infrastructure is permanent. Solana is still building.
Toss Bank is partnering with Solana for stablecoin remittances. The foundations of the industry are stronger than they were in 2018 or 2022, even if retail sentiment is at rock bottom.
xet’s warning should be taken seriously. The current market is dangerous for retail traders who chase pumps and gamble on meme coins. But his call that the Bitcoin price will hit $28,000 and never recover is likely the frustration of someone who lost everything. The market may have more pain ahead; a drop to $55,000 or even $50,000 is possible. But $28,000 would mean a complete collapse of institutional adoption. That seems unlikely.
For traders, the lesson is clear: manage risk, avoid leverage, and do not chase degenerate meme coin pumps. For long-term believers, this is the kind of despair that historically marks the bottom. But as both ChatGPT and Claude AI noted earlier, this is a “bottoming process, not a full recovery.” The game is not finished. But the game has changed.
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