Ethereum’s price is poised for a potential breakout above $3,000, but analysts suggest this may not happen until Q4 2024. Currently, Ether faces significant resistance at $2,700, with insufficient evidence to confirm a breakout, while some traders predict a possible correction to $1,750.
read moreAurelie Barthere
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Bitcoin rebounds from support aiming for 61500 target after market fluctuations
Bitcoin has rebounded from a key support level at $58,000, with potential targets set between $60,500 and $61,500 following a successful test of this support. Despite a recent crash leading to $110 million in liquidations and $127 million in outflows from US spot Bitcoin ETFs, analysts suggest the market remains choppy but poised for upside continuation.
read moreEther Price Decline Driven by Investor Sentiment Not ETF Outflows
Ether’s price has dropped over 26% since the launch of US spot Ether ETFs, now trading at $2,587, primarily due to a lack of investor interest rather than ETF outflows. The broader crypto sell-off, linked to traditional equities and external factors like interest rate hikes, has further impacted market sentiment. Analysts remain uncertain whether this is a temporary correction or the end of the bull market, with future trends hinging on the Federal Reserve’s monetary policy decisions.
read moreBitcoin Price Surge Expected as Rate Cut Prospects Strengthen
Bitcoin is poised to reach $65,000 as the July CPI inflation rate fell to 2.9%, below expectations, increasing the likelihood of a Federal Reserve rate cut in September. Analysts suggest this could trigger a sustained rally in the cryptocurrency market, attracting investors seeking opportunities in a more accommodative monetary policy. However, potential selling pressure from whales as prices approach this resistance level could impact the momentum.
read moreAltcoin Market Analysis: Potential Bottom in June Before Bull Run
Altcoins are expected to hit a local price bottom in June, potentially marking the start of the next bull cycle, as historical patterns and market sentiment suggest a turnaround. However, for a significant altcoin rally, fundamental changes such as increased investment and favorable regulatory developments are needed. Bitcoin’s breakout to the upside is seen as a prerequisite for triggering an altcoin bull cycle, with market analysts emphasizing the correlation between Bitcoin price and altcoin sentiment. Additionally, the M2 money supply turning positive year-over-year could drive investors towards altcoins and memecoins as hedges against inflation or alternative investments.
read moreBitcoin Leverage Flushed as US Inflation Rises, Impact on Crypto Market
Bitcoin leverage was flushed at the US market open as inflation exceeded estimates, leading to $164.52M in liquidations in the crypto market. Despite the unexpected rise in inflation, an analyst does not anticipate a significant impact on the crypto bull market, citing strong bullish momentum and potential repricing of expected Fed rate cuts.
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