Crypto analyst Rekt Capital has provided insights into the potential future trajectory of Bitcoin. According to Rekt Capital, Bitcoin might not be quite ready for its next leg up, which could see it climb back above $70,000. He claimed that Bitcoin is not yet prepared for a successful retest of the $65,000 level as new support. In order for Bitcoin to establish $65,000 as the new support level, it would need a similar retest like the one that occurred earlier in May. This confirmation will signal a break back into the $65,000 to $71,500 range, crucial for confirming the end of the downtrend and the avoidance of dropping back to the $60,000 range while below $65,000. Holding above the $65,000 support would indicate readiness for revisiting previous tops above $70,000.
Crypto expert Michael van de Poppe previously highlighted the $70,000 range as the key level for Bitcoin to surpass its current all-time high of $73,750. Additionally, crypto analyst Altcoin Sherpa outlined a few scenarios that could play out for Bitcoin from its current price level. These scenarios include dumping to $63,000 and returning to pump, dumping to $60,000 and returning to pump, or dumping to $60,000 with some relief bounces before a potential decline. Altcoin Sherpa expressed hope for Bitcoin to break above these levels without pullback and rise to $70,000. Another crypto analyst, Dann Crypto, shared expectations for Bitcoin in the latter part of the bull run, anticipating a rally leading up to the US Presidential elections. This rally could be fueled by the narrative of a potential crypto-friendly President and Vice President, as well as a potential rate cut and overall excitement following a four-month range.
Crypto analyst Daan Crypto also weighed in on the future trajectory of Bitcoin, mentioning Spot Ethereum ETFs as a wildcard that could potentially accelerate the rally, depending on demand. Daan Crypto expects the market to experience another local top after the Bitcoin rally, likely in the new year. Looking ahead, Daan Crypto predicts the final rally of this bull run to occur in the latter half of 2025, following the established 4-year cycle. He emphasized the historical success of this cycle and its potential impact on Bitcoin’s future trajectory.
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