Bitcoin’s Trajectory Predicted to Surge Amid Imminent ETF Application

Crypto analyst Michaël van de Poppe has forecasted a substantial breakout for Bitcoin (BTC) driven by an impending ETF application and the upcoming Bitcoin halving event. On Friday, he anticipated that BTC will surpass the $28,800 resistance level, potentially rallying to $32,000 before correcting down to $29,000. These movements are expected to align with the pre-halving period beginning in December.

Van de Poppe’s insights suggest that the combination of the forthcoming ETF application and the pre-halving event could lead to a significant increase in BTC’s price. He also pointed out a potential retest around the $27,700 mark and emphasized a constructive consolidation phase for Bitcoin to establish solid support levels.

In his analysis of Bitcoin, Van de Poppe also identified positive trends in altcoins like Chainlink and Injective, which he believes are in their final bear market phase. This observation is notable amid the general disinterest in the crypto market and Bitcoin’s dominance. He predicts that the expected halving event for BTC will invigorate the altcoin markets, consistent with historical trends.

However, concerns were raised regarding Ethereum’s performance, particularly due to disappointment over the postponed launch of ETH ETF Futures. This delay has highlighted weaknesses in Ethereum despite an otherwise optimistic outlook for the crypto market.

This article was generated with the support of AI and reviewed by an editor.