Bitcoin (BTC) 
$63,377 and Ethereum (ETH) 
$1,880 prices have been in the spotlight due to sharp declines in recent weeks. Investors should be cautious as the cryptocurrency market faces significant volatility.
Current Situation of Bitcoin
On October 24-25, Bitcoin dropped to around $65,000. This decline is viewed by investors as a short-term pullback. Cryptocurrency analyst Michael van de Poppe anticipates that the market will recover and rise following this dip.
Van de Poppe indicates that Bitcoin is expected to show signs of recovery in the upcoming week. Particularly, if U.S. Treasury yields decrease, the overall market conditions could improve, leading to a rise in the premier cryptocurrency.
Expected Support Level for Ethereum
There is notable selling pressure observed on the Ethereum front. Ethereum losing value against Bitcoin is interpreted as a signal of market capitulation.
The ETH/BTC trading pair is expected to drop to 0.035, which is considered a strong support level. Van de Poppe predicts that the king of altcoins could initiate a new recovery movement once it reaches this level.
This level highlighted by the analyst represents an opportunity for investors. However, considering the volatile nature of the cryptocurrency market, it is crucial to adopt cautious strategies. Consequently, closely monitoring market developments in the coming days will be critical for assessing opportunities and risks accurately.
