NBA Legend Scottie Pippen Is 'Watching' Bitcoin — He's Been In The Game For A While

• Scottie Pippen, a former NBA champion, shared a Bitcoin price chart on Saturday, saying an unnamed source sent it with the message "watch Bitcoin."
• Pippen has been publicly engaged with crypto since 2024, when he tokenized the 1991 NBA Finals Game 5 ball as a blockchain asset through his project Game5Ball.
• Analysts remained divided on Bitcoin's direction as it continued to trade at the $ 67,000 level.

Six-time NBA champion Scottie Pippen posted a Bitcoin (BTC) price chart on X on Saturday, saying an unnamed source shared it with him.

Pippen said the chart came to him with a simple message, "watch Bitcoin." The former Chicago Bulls star’s interest in Bitcoin is not new. The NBA superstar has been consistently and publicly bullish on Bitcoin for the past couple of years. In July 2024, he tokenized the actual basketball from Game 5 of the 1991 NBA Finals, the game in which the Chicago Bulls defeated the Los Angeles Lakers to win their first championship, as a real-world asset on the blockchain through his project Game5Ball. 

Real-world asset tokenization refers to the process of representing ownership of a physical object on a blockchain, making it tradeable and verifiable. Michael Saylor, Strategy (MSTR) Chairman and one of Bitcoin's most prominent corporate advocates, responded to Pippen at the time, advising him on Bitcoin. 

Bitcoin’s price traded at $67,041, down by 0.2% over the past 24 hours. On Stocktwits, the retail sentiment around BTC remained in the ‘bearish’ zone, while chatter levels around it remained ‘low’ over the past day.

Analysts Remain Divided On Bitcoin

The chart Pippen shared shows Bitcoin's long-term price history, currently sitting around $67,000, roughly 47% below its all-time high in October last year, when Bitcoin traded above $126,000.

The range of analyst views is wide. Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, claimed last week that Bitcoin could revert to $10,000 this year, arguing that Bitcoin hovered around that level before what he described as the “biggest monetary pump “in history in 2020 to 2021, and that $10,000 remained its most-traded price since futures were launched in 2017.

On-chain analyst Willy Woo offered a different read around the same time last week. He said the current price action does not reflect the structure of a real bear market. Woo said real bear markets are preceded by months of capital outflows as price runs up on momentum, and that bottoms only form when long-term investors re-enter after a prolonged period of low liquidity. He described the current weakness as a liquidation of short-term trader positions and leveraged bets, not a structural breakdown driven by long-term holders.

Read also: BNB Steals The Spotlight On Easter Sunday While Bitcoin Stalls And Ethereum Struggles

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