The cryptocurrency markets might be about to experience a huge breakout because of one important factor, according to a well-known analyst.
Crypto trader Michaël van de Poppe warns his 783,200 followers on the social media site X in a recent thread that a “banana zone” could result from central banks lowering interest rates to support the economy because of the past correlation between digital assets and liquidity levels.
Crypto researchers refer to a time of quickly and explosively rising digital asset prices as the “banana zone.”
Rates are being lowered by the European Central Bank (ECB). President Trump is targeting J. Powell, the chair of the Fed. You can find the Banana Zone just around the corner. Subsequently, the analyst reports that Bitcoin (BTC) is making headway and might be about to breach a significant resistance mark at $86,549. Bitcoin is on the verge of breaking out at $85,000. Good things are coming.
Before the end of June, Bitcoin might return to the six-figure mark, according to the analyst.
The two levels of Bitcoin are still neatly consolidating. He believes that if we retest it, we will witness a significant breakout. The test at $87,000 did occur. Next up? Probably a surge to a record high before the conclusion of this quarter.
Before the end of June, Bitcoin might return to the six-figure mark, according to the analyst.
The two levels of Bitcoin are still neatly consolidating. He believes that if we retest it, we will witness a significant breakout. The test at $87,000 did occur. Next up? Probably a surge to a record high before the conclusion of this quarter.
According to the analyst, Bitcoin has to maintain its upward trajectory by holding onto $80,000 as support. He believes that as long as Bitcoin remains above $80,000, we will be okay with additional upward momentum on this one.
