Bitcoin price surpassed $68,000 early in the morning, briefly trading at $68,400 before pulling back. Bitcoin started the week positively, with altcoins following suit, keeping the TOTAL above $2.4 trillion. A prominent market analyst made significant statements about Bitcoin’s future and a new meme coin in the market.
Analyst’s Bitcoin Commentary
An analyst known for predicting the peaks and troughs of cryptocurrencies believes Bitcoin’s (BTC) price rise to $100,000 and beyond has begun. Bluntz, a well-known market analyst, stated on X that Bitcoin is undergoing a five-wave fluctuation process towards its ATH.
The analyst uses the Elliott Wave theory, which posits that the asset experiences upward movements in the first, third, and fifth waves, while the second and fourth waves are corrective, forming a total of five waves.
Bluntz says,
(Last) BTC weekly absolute monster and just rose from the (July 8) lows. I suspect a pullback from the horizontal resistance around $71,000 after everyone successfully FOMO’d (fear of missing out). Markets are very good at doing this.
According to the analyst’s review, BTC might make one more move before ending its five-wave upward trend and potentially rising to $110,000. During this process, it might first correct and fall back to $60,000.
At the time of writing, Bitcoin is trading at $67,400 after a 1% increase in the last 24 hours.
How Much is POPCAT Worth?
The trader also examined Popcat (POPCAT), a meme token project on the Solana (SOL) network. Bluntz noted a bullish sentiment in the memecoin, explaining that turning the previous all-time high of $0.73 into support might have created significant momentum for its rise.
All-time high retest completed.
At the time of writing, POPCAT is valued at $0.9065 after a 3.14% decrease in the last 24 hours. The market cap is $888 million, while the trading volume increased by 28% to $95 million.
