Trump continues to shake up global policies by raising tariffs for South Korea due to delayed reciprocal tariff updates. Although he supports cryptocurrency initiatives, his unpredictability negatively impacts cryptocurrency charts. Poppe, however, believes we are at the market’s bottom. Additionally, today we will look at Sherpa’s target for HYPE Coin.
Is Bitcoin at Its Lowest?
Depending on your market perspective, you might expect either a bull or a bear market. Those focusing on negative data predict Bitcoin will fall to $30,000 this year. In contrast, if early signals and reversal signs are emphasized, Bitcoin could surpass $150,000 in the coming months. Cryptocurrency investors need to view the market from various angles and make independent decisions, rather than simply copying analyst strategies, to avoid substantial losses.
Poppe argues that we are at a market bottom by sharing the following chart.
“BTC’s RSI value against gold has fallen below 30.
This situation previously occurred only during:
2022 bear market bottom
2018 bear market bottom
2015 bear market bottom
I believe we are approaching the same process, and instead of a bear market beginning, a bull market is likely to start.”
Poppe overlooks the fact that gold is experiencing an unprecedented rise, reaching its all-time high, as investors avoid risk while cryptocurrencies decline.
HYPE Coin and Significant Developments
Sherpa, having shared the chart below, is optimistic about his favorite altcoin, Hyperliquid (HYPE). He anticipates the coin’s price will rise to at least $35.
“If Hyperliquid surpasses the current level and Bitcoin remains stable, it will likely reach at least $35. It is still one of the strongest cryptocurrencies on the market, with the largest Tornado seller no longer present. The key level to watch is $32, near the 200-day EMA.”
In recent hours, significant developments have unfolded as follows:
- Trump increased South Korea tariffs from 15% to 25%.
- The EU and India officially announced a free trade agreement.
- The US Senate Agriculture Committee’s crypto market structure markup meeting is set for January 29th.
- A joint SEC and CFTC crypto monitoring meeting is also scheduled for January 29th.
- Tom Lee’s BitMine company purchased 40,000 ETH and staked 184,960 ETH, bringing the total staked ETH to 2.13 million (~$6.22 billion).
- VanEck’s Avalanche ETF VAVX started trading on Nasdaq.
- Tether increased reserves by adding 27 tons of gold in Q4, reaching $4.4 billion.
- HIP-3 open positions soared to $790 million from $260 million a month ago, reaching a new ATH.
- Coinbase established an independent advisory board focusing on quantum computing risks.
