Bitcoin Price Surge Sparks Optimism in Altcoins

For months, Bitcoin (BTC) $107,316 hovered below the $72,000 mark, but it has finally reached this level, ending nearly two quarters of stagnation. As BTC approached $72,000 while this article was being prepared, it paved the way for potential price increases in other altcoins. What are the latest predictions for SOL Coin, SUI Coin, and other cryptocurrencies from experts?

SUI and SOL Coin Chart Analysis

Raoul Pal, a recognized figure in the crypto space, released his views on SOL Coin shortly before the U.S. markets opened. Following his commentary, BTC experienced a 5% spike, hitting $72,000, which also allowed for over a 10% rise in the prices of SHIB and DOGE.

At the time of writing, BTC reached a daily peak of $72,095. However, close above $71,500 would be a motivational factor for altcoins. Pal expressed that a breakout above $185 for SOL Coin would signal the start of a major rally, advising caution due to the hefty costs of failed attempts in recent months.

SOL Coin price was at $179 while this article was prepared. Pal shared a DOGE chart, indicating that a breakout is imminent, with targets of $0.18 and $0.23 remaining relevant.

Quinten shared the SUI Coin chart, noting that events unfolded exactly as anticipated. He mentioned that SUI is attempting to break the $2 level again, with a target of $2.18 as the market heats up.

“The SUI scenario I published a few weeks ago occurred exactly as predicted. The market feels warm, and I believe the bulls will break it.”

Current Status of Cryptocurrencies

In the BTCUSDT pair on Binance, we have not seen a daily volume of $3 billion for a long time until BTC surpassed $72,000. The total daily volume across exchanges exceeded $100 billion, with a 51% increase in volume, signaling good news as prices rise.

With U.S. elections approaching in early November and October nearing its end, another interest rate cut from the Fed is expected. Considering the disappointing JOLTS report today, the anticipated scenario for inflation seems to be unfolding for cryptocurrencies.