Bitcoin (BTC) $105,433 has once again retreated to $63,000 after failing to break the resistance at $65,000. The strong selling liquidity has made this key level a challenging target. While altcoin traders remain hopeful, many significant developments are expected in the coming days. What are the forecasts from experts regarding BTC, BNB, SOL, and the broader cryptocurrency market?
General Commentary on Cryptocurrencies
In today’s market evaluation, Michael Poppe stated that cryptocurrencies and commodities will likely yield the best returns over the next five years. The global liquidity expansion appears promising, especially with China’s recent interest rate cuts. Additionally, comments from some Federal Reserve members about accelerating interest rate reductions are motivating traders.
Historical data suggests that a liquidity increase often leads to rising risk markets. Although stocks have been pricing in interest rate cuts, further reductions by the Fed and other central banks could lead to new all-time highs. Furthermore, Bitcoin has historically experienced its best earnings in the fourth quarter, and investors are already anticipating a bullish period as we approach this time of year.
BTC and BNB Price Projections
In his market analysis, Jelle noted that if BTC maintains its strength, it could confirm a descending wedge breakout in five days. This would indicate further upward movement for the leading cryptocurrency. The key breakout level is $63,716; however, BTC has been lingering below this threshold recently.
Daan Crypto Trades highlighted the rising price of BNB Coin due to CZ’s impending release. He emphasized the importance of whether BNB remains strong or if it will rise post-CZ’s release.
“For me, whether BNB remains strong is significant, and if it fails to rise after CZ’s release, I will consider it not its time yet. CZ and BNB will be important tests for me.”
Daan accurately focuses on gauging market sentiment. If bullish markets begin, CZ’s release should trigger a strong rally, aiming for a new test towards $660.
Solana (SOL) Commentary
Carl shared a short-term evaluation while SOL Coin was below $150. Although it exceeded this mark in subsequent hours, it still remains under it. In yesterday’s shared graph, he aimed for $160 while noting the price consolidation within a symmetrical triangle. Today, he remarked:
“Solana $242 has exited the triangle as predicted! The upward movement may continue after testing the previous level.”