“The Only Winning Move Is Not to Play”: Michael Burry’s Warning Shakes Crypto Twitter

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Posting under the name “,” Burry drew inspiration from Greek mythology — Cassandra, the priestess cursed to make accurate but ignored predictions.

Satire of Tulip Mania

While known for his bearish positions, Burry’s recent portfolio filings show a strategic shift. In mid-2025, his firm, , replaced $186 million in bearish put options with $522 million in bullish calls across nine stocks.

These include Estée Lauder, Lululemon, Alibaba, and JD.com, signaling a nuanced rather than outright pessimistic outlook. Business Insider, Scion’s holdings expanded from seven to fifteen positions between March and June.

Peter Mallouk, CEO of Creative Planning, noted that Burry had “gone from a strong conviction bet on a sector fall to a broad-based bet the bull run will continue.”

Burry’s post comes as the crypto market experiences a broad-based decline. Bitcoin trades at $109,642 after touching $116,400 earlier this week, marking a 4.5% loss over the past month.

Still, Bitcoin remains the only top-10 cryptocurrency near record levels. Major tokens such as Ethereum, Solana, and XRP continue to trade more than 40% below their peaks.

ETH hovered around $3,865, facing resistance near $3,950–$4,200. Ethereum has posted 3.5% and 7.5% losses over the past day and month, respectively. XRP follows a similar pattern but recorded 1.7% and 5.6% gains over the past day and two weeks, respectively.

Notably, the total crypto market cap stands at $3.7 trillion, representing a 1.9% decline over the past day. Meanwhile, the 24-hour trading volume sits at $192 billion, reflecting reduced activity as major cryptocurrencies turn red.

The ongoing dip follows the U.S. Federal Reserve’s expected 25-basis-point rate cut, which met traders’ expectations. Markets, however, reacted more strongly to news that quantitative tightening will end in December.

As a result, market sentiment has turned more cautious, with the Crypto Fear and Greed Index dropping to 34 from 43 the previous month.

Meanwhile, Bitcoin ETFs saw $488 million in outflows on Thursday, led by BlackRock, Fidelity, and Ark. Ethereum ETFs incurred $184 million in outflows, reflecting a decline in investor confidence despite the Fed’s policy shift.