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Bitcoin’s price has accelerated again, and as expected, volatility is on the rise. The price is fluctuating, and futures traders are once again becoming prey. Increasing futures volumes are turning certain price regions into targets, with BTC hunting positions amid speculative movements. So, what are the expectations for the future?
Bitcoin (BTC)
Historically, bear markets that lasted a reasonable period have now ended, and the Bitcoin price convincing everyone of a new era with closures above $38,000. However, just like at the start of the bear market, some investors are not convinced that the long-standing trend is over. But when the day comes, we will experience a period opposite to what we experienced in November 2022, and on those days, prices will be at ATH levels, not ATL.
It has always been like this in history. Therefore, we will see a rise in the long-term outlook. In the medium term, despite fluctuations, a rise is expected due to many reasons such as halving, interest rate cuts, BTC ETF entries, and ETH ETF decisions.
Open interest increased by $1 billion in a short time, and long positions are strong. An analyst known by the pseudonym Jelle wrote the following;
“If we close the day above $45,000, this could go much higher. Patience continues to form the foundation of this game. The name of this game is Patience.”
Credible Crypto, another popular analyst, said the following;
“All signs point to overly aggressive short positions that have little impact on the price.”
Bagsy thinks that those who sold during the ETF launch are inclined to re-enter the game. Tedtalksmacro points to $43,800 as a key region and emphasizes that closures above this are positive.
Altcoins on the Move
Major altcoins like BNB and ADA Coin are in the spotlight with increases approaching double digits. ETH has surpassed $2,400, expecting good news in the coming months in the shadow of Dencut and the spot Ethereum ETF decision. A well-known crypto market analyst, Rekt Capital, wrote the following;
“This ETH breakout could serve as fuel for the next phase of Altcoin rallies.”
According to him, altcoins are on the verge of a historic breakout, and conditions seem favorable. We’ve been talking about a sustained rise in the ETH price for months, with targets of $3,500 and beyond. This could also mean experiencing a short-term revival of those old altcoin bulls.
