Cryptocurrency markets saw a surge in price action, with Bitcoin pushing past $62,000 and altcoins also experiencing substantial gains. Experts offer insights on potential market direction, including predictions for Bitcoin’s future price and key support levels to watch. Meanwhile, the influence of Bitcoin as an institutional asset class will be explored at the upcoming Future of Digital Assets event.
Popular cryptocurrency trader Capo has predicted potential significant declines for Bitcoin and Ethereum, suggesting a possible final shakeout before a surge in altcoins. This forecast comes amidst recent market volatility and conflicting opinions on the future of Bitcoin, with some analysts expecting it to reach new highs while others predict a correction.
A new report reveals a growing trend of altcoin liquidity concentrating on offshore exchanges, driven by the resurgence of large and mid-cap altcoins. While overall liquidity has recovered, the uneven distribution raises concerns about smaller altcoins struggling for exposure in this competitive market.
Cryptocurrency analyst Michaёl van de Poppe has unveiled his high-risk, all-altcoin portfolio strategy for the current market cycle. He believes the coming period will be favorable for altcoins, fueled by increased global liquidity and a potential Bitcoin surge to $90,000-$100,000. His portfolio includes both large-cap and smaller, higher-risk altcoins, with the potential for significant returns.
Prominent crypto trader Michaël van de Poppe forecasts a significant bull run in the cryptocurrency market following the Federal Reserve’s upcoming rate announcement, citing strong altcoin performance and improving market sentiment.
Bitcoin and other leading cryptocurrencies lost early gains overnight after the high-stakes presidential debate between Donald Trump and Kamala Harris made no mention of the asset class. Despite Bitcoin’s rally above $58,000 after the stock market closed, the lack of discussion in the debate led to a decline below $57,000. Market sentiment remains cautious, reflected in the ‘Fear’ category of the Cryptocurrency Fear & Greed Index. Despite the flatline, some altcoins, including Internet Computer (ICP) and Artificial Superintelligence Alliance (FET), saw significant gains.
A crypto analyst, TradeTheFlow, has suggested an unusual cycle for Bitcoin and altcoins, deviating from the typical market pattern. Instead of seeing Bitcoin’s dominance wane during a bull market, as typically observed with altcoins gaining traction, Bitcoin continues to hold a significant market share. This suggests a potential delay in the widely anticipated altcoin season.
Recent data from CryptoQuant indicates substantial Bitcoin transfers from dormant wallets, which could signal upcoming selling pressure. While altcoins currently exhibit a positive correlation with Bitcoin, historical data suggests that negative correlations often precede market downturns. These indicators point to potential market volatility in the near future, urging investors to remain vigilant.
Crypto analyst Miles Deutscher believes that retail investors may soon return to the cryptocurrency market. He cites the influence of institutional investors, particularly BlackRock’s Bitcoin ETF, as a key factor driving this potential resurgence. Deutscher also highlights the allure of crypto as a speculative asset and the emergence of real-world blockchain applications as potential catalysts for retail re-engagement.
Crypto analyst Benjamin Cowen highlights the impressive rally of Solana (SOL) but advises caution, drawing parallels to Ethereum’s past performance and pointing towards potential market shifts. He emphasizes the importance of considering market cap valuations and macroeconomic factors that could trigger a pullback in SOL/BTC.
