Daily Hodl: Crypto Analyst Predicts Critical Level for Bitcoin to Break Out and Spark Next Bull Run
Bitcoin surpassing this significant resistance level, as suggested by analyst Michaeël van de Poppe, could indicate a potential thrust for the subsequent upward movement.
Hey there! We've got some exciting updates for you in the world of crypto. Let's dive right in.
Michaël Vander Poppe, a highly-followed crypto analyst, has shared his insights about Bitcoin (BTC) and Ethereum (ETH). If you're into crypto, you won't want to miss this!
According to Vander Poppe, Bitcoin needs to surpass the $106,000 resistance level to embark on a significant bull run. In a recent analysis, he noted that if BTC can break and hold above this critical level, it would serve as a strong signal for the next bull market leg. He expects a test of this level to happen in the near future, as Bitcoin typically sees a move north following a bounce from liquidity[1].
Meanwhile, Vander Poppe suggests that the market sentiment is shifting towards Ethereum (ETH) and other altcoins. During a period of consolidation for Bitcoin, Ethereum remained steady, signaling a potential rotating of momentum towards ETH. On June 21, Vander Poppe further mentioned that Ethereum has been taking liquidity from various levels for over a month, hinting at a potential breakout. Moreover, Ethereum Exchange Traded Funds (ETFs) have experienced substantial inflows of around $1 billion in June, demonstrating strong institutional interest and reinforcing the likelihood of an impending rally for ETH[1][5].
For those who follow the crypto market, it's essential to keep an eye on these developments. Let's stay informed and make smart moves!
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Check out our official Telegram, Facebook, and X channels for more updates, and remember to always do your own research before making high-risk investments in crypto. Happy hodling, and stay safe out there!
1 - Source: Bloomberg
2 - Source: CoinDesk
3 - Source: The Block
4 - Source: Blockchain Reporter
5 - Source: Yahoo Finance
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their own research before making any high-risk investment in Bitcoin, crypto, or digital assets. Please remember that The Daily Hodl participates in affiliate marketing and may receive commissions for promoting certain services.
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In the ever-evolving world of cryptocurrency, analyst Michael Vander Poppe predicts that Bitcoin needing to surpass the $106,000 resistance level could trigger a significant bull run, and if broken, this could signal the start of the next bull market leg. Meanwhile, Vander Poppe suggests that the market sentiment is favoring Ethereum and other altcoins, with Ethereum demonstrating strength and institutional interest, hinting at a potential breakout.
As the crypto landscape continues to unfold, it's crucial to keep an eye on developments involving Bitcoin, Ethereum, and other altcoins, as they may impact the market and potentially offer lucrative investment opportunities in various blockchain projects.
