Why Bitcoin Whales Are Dumping And How Long Will It Last? | Bart Smith

Watch on YouTube ↗  |  November 26, 2025 at 16:01  |  40:00  |  The David Lin Report
Speakers
Bart Smith — CEO, Avalanche Treasury Company

Summary

Bart Smith, CEO of Avalanche Treasury Company, tells David Lin why Bitcoin has fallen about 30% from its highs amid whale profit-taking, reduced rate-cut odds, and thin liquidity. He sees a constructive first-quarter setup from dovish Fed expectations, midterms liquidity, and crypto regulatory clarity, with potential new highs in Bitcoin, ETH, and Avalanche next year, but warns an AI infrastructure bubble or labor-market weakness could pressure all risk assets. The interview also covers crypto treasury companies, the planned AVAT public listing, Avalanche enterprise adoption, and stablecoin growth.

  • Bitcoin fell roughly 30% from highs amid whale selling, rate-cut doubts, and liquidity pressures.
  • Bart sees macro, regulatory, and liquidity conditions setting up a possible Q1 crypto rally.
  • AI infrastructure bubble and labor-market weakness are flagged as major risks.
  • Crypto treasury companies are pitched as permanent-capital, regulated crypto exposure.
  • Avalanche Treasury Company plans an SEC-approved SPAC deal and AVAT ticker in Q1 2026.
  • Avalanche is highlighted for enterprise/government adoption and tokenization.
  • Stablecoin M&A and adoption are expected to accelerate, though retail onchain UX remains a hurdle.
  • Bart expects possible new highs for BTC, ETH, and AVAX next year.
Ideas
Bart Smith CEO, Avalanche Treasury Company 0:05
Macro liquidity supports Bitcoin new highs.
Bart expects Bitcoin to benefit next year from a dovish Fed chair, eventual rate cuts toward 2.5% that could unlock money-market capital, midterm liquidity, and crypto regulatory clarity. He treats whale profit-taking as a natural ownership shift that is healthy over time, and sees potential all-time highs next year, though he warns the bottom may not be in and AI/labor-market shocks could pressure crypto.
BTC HIGH
Bart Smith CEO, Avalanche Treasury Company 0:06
ETH positioned for next-year rally.
Bart expects ETH to be part of the next-year crypto rally and possible all-time highs, supported by the same macro/liquidity tailwinds as Bitcoin. He says recent ETH underperformance versus Nasdaq is a snapshot, argues ETH has outperformed QQQ over 2-3-5 year windows, and sees Ethereum as a primary stablecoin transaction chain, though he acknowledges ETH holders do not capture all value created by apps like Tether, Uniswap, or Aave.
ETH HIGH
Bart Smith CEO, Avalanche Treasury Company 9:31
AI bubble threatens tech-related assets.
Bart warns that an AI infrastructure bubble, driven by excess/overinvestment, could cause a global repricing of equity capital markets and be too strong a headwind for most asset classes. Macro- and technology-reliant assets, including crypto, would be vulnerable, though he thinks Bitcoin could outperform relatively during such a shakeout.
AIQ MED
Bart Smith CEO, Avalanche Treasury Company 14:57
Treasury companies offer permanent crypto exposure.
Bart argues digital-asset treasury companies are a new institutional model that simply brings crypto into the normal public-company capital-markets framework. Their permanent capital means they are not forced to sell underlying crypto during drawdowns, unlike funds facing redemptions, and they can invest strategically in DeFi protocols, revenue-producing companies, or ecosystem tokens; this gives retail and institutional investors a regulated, less forced-selling route to crypto exposure.
Digital asset treasury companies HIGH
Bart Smith CEO, Avalanche Treasury Company 20:05
AVAT offers regulated Avalanche ecosystem exposure.
Bart is promoting Avalanche Treasury Company (AVAT) as an SEC-regulated public vehicle with an exclusive relationship with the Avalanche Foundation, a $200 million discounted AVAX token sale, and advisory/board alignment through Emin Gün Sirer and John Nahas. After the Mountain Lake Acquisition Corp business combination and SEC approval expected in Q1 2026, AVAT plans to invest in DeFi, Avalanche ecosystem tokens, and companies supporting the ecosystem, giving investors regulated exposure to Avalanche rather than owning AVAX directly.
AVAT HIGH
Bart Smith CEO, Avalanche Treasury Company 23:31
Avalanche enterprise adoption drives AVAX value.
Bart is bullish on Avalanche because it has the strongest enterprise and government adoption among smart-contract platforms, with its C-chain allowing organizations to build permissioned, customized chains that protect private data. Named adopters include KKR, Apollo, Toyota, FIFA's 2026 World Cup fan/ticketing, Wyoming's stablecoin/tax-return debit card, California DMV car-title tokenization, Dinari private-credit tokenization, and growing stablecoin/DeFi/tokenized-collateral activity, which he argues creates a network effect that can drive AVAX value and possible new highs next year.
AVAX HIGH
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This The David Lin Report video, published November 26, 2025, features Bart Smith discussing BTC, ETH, AIQ, Digital asset treasury companies, AVAT, AVAX. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Bart Smith  · Tickers: BTC, ETH, AIQ, Digital asset treasury companies, AVAT, AVAX