Bitcoin 
$0.000105 drew attention last Friday by reclaiming the $68,000 level. Crypto analyst Michaël van de Poppe noted that Bitcoin stands on the brink of reaching new all-time highs. In a statement to approximately 730,800 followers, Van de Poppe expressed that Bitcoin could surpass its current ATH level in the near future.
Price Predictions and Possible Corrections
Van de Poppe suggested that Bitcoin might exceed its current ATH of around $74,000 within a few days, while emphasizing the possibility of revisiting the $65,000 level beforehand. He stated that Bitcoin is still in a consolidation phase, which could indicate some weakness in the markets. Additionally, he pointed out that the upcoming elections and the potential for a new rate cut by the Fed could also play a significant role.
The analyst indicated that the European Central Bank’s (ECB) recent rate cut could act as a positive catalyst for Bitcoin. Van de Poppe mentioned, “The ECB’s rate cut and unemployment data in the U.S. could push Bitcoin higher in the early stages.” He noted that these developments could support Bitcoin in reaching new record levels.
Future of Altcoins
Van de Poppe highlighted a possible correlation between Ethereum 
$3,154 and U.S. Treasury yields starting next month, suggesting that altcoins may outpace Bitcoin’s performance. He noted that Ethereum is trading around $2,637 and stated that the Fed’s meeting in November could create positive signals for altcoins:
“Bitcoin might not yet be at the depth we need to consider. The ECB’s rate cut and U.S. unemployment data could push Bitcoin higher earlier.”
Currently, Bitcoin is trading at $68,362, reflecting a nearly 2% increase over the last 24 hours. Van de Poppe mentioned that they are closely monitoring the upcoming Fed meeting’s effects on Bitcoin and the altcoin markets.
The analyst pointed out that the high correlation between Ethereum and Treasury yields could determine the future performance of altcoins. He also expressed expectations for a bull season for altcoins following the Fed’s rate cut.
The next Fed meeting is scheduled for November 6-7. The impact of this meeting on the cryptocurrency markets is eagerly anticipated by market participants. The future movements of Bitcoin and Ethereum may depend on these developments.
The price movements of Bitcoin and other cryptocurrencies can vary based on global economic indicators and central bank policies. Monitoring such analyses may be crucial for investors to understand market trends.
