Bitcoin (BTC) 
$76,042 performed as expected and dropped below $57,000 after the U.S. market opened. As of this writing, the BTC price stands at $56,690. While altcoins have generally turned green, it is difficult for BTC to reclaim support without consolidating at higher levels. So, what are analysts’ latest predictions for NEAR, ETH, and BTC prices?
NEAR and ETH Price Predictions
Despite the ETF approval, Ether price did not show the expected performance and is still hovering around $2,300 as of this writing. This has caused some disappointment among investors, but the negative inflation narrative is also reversing. In the coming months, inflation will turn positive for the last 365 days, and it has already turned positive in the shorter term.
A well-known crypto analyst shared his latest predictions for ETH today, stating that the ETHBTC chart looks “disastrous.” The ETH price has indeed weakened significantly against BTC.
“The biggest nonsense of this cycle: ETH.
The bullish divergence was not confirmed. It started to look really bad, and I think we will sweep the lows. If Bitcoin reaches $60-61K, ETH will drop below 0.04 before it has a chance to reverse.”
Poppe, who frequently shares assessments for NEAR Coin, targets seeing $15 in a 3-6 month period if the $2.75 and $3.40 levels are maintained. The strength of the support levels is crucial for the analyst’s return predictions to materialize.
Of course, for this scenario to materialize, the BTC price needs to remain above $70,000, and cash inflow into altcoins needs to accelerate again. While BTC has fallen to $56,500, the Fed pivot narrative seems to support the story of triggering deeper lows. Who among us sees the future? We will watch and see.
Bitcoin Analyst Commentary
In today’s latest market review, Daan Crypto Trades highlighted the growth of open positions in BTC futures. Comparing the rate of price increase to the growth rate of open positions, the analyst thinks that slower OI growth is positive. Daan, who wrote that this situation is supportive for a sustainable rise, implies that the expected rebound might start this time.
“This is generally a good situation because it shows that there are not too many positions chasing the price and that the movement is primarily spot-driven. It needs to stay this way to achieve a sustainable rise.”
