BTC price has seen a painful decline, appearing to have bottomed out at $92,232 for now. Altcoins suffering substantial losses have taken a significant hit alongside the increase in BTC. Earlier this week, we noted that the Fed’s 2025 projections would heighten volatility. What are the current predictions from experts regarding AVAX, BTC, and ETH?
Renowned Turkish crypto analyst Efloud shared his latest predictions for AVAX about an hour ago. BTC price is attempting to reclaim $97,000, and in the coming hours, a deal related to the US debt ceiling is expected to support the markets. If this occurs, altcoins could perform well over the weekend.
In his assessment today, Efloud shared the following chart, stating:
“The analysis I referenced received 500 likes and nearly 100 bookmarks, warranting an update. The price is about 11% above my entry level. Consider stop-entry or partial profit-taking (depending on your risk appetite or current condition). I will look to take major profits at the lost support area ($44.5) and slightly above that.”
Bitcoin (BTC) and Ethereum (ETH)
Reaching a critical resistance level at $4,100, ETH could have set a new ATH. However, it painfully lost $3,800. The drop in BTC price has interrupted the anticipated massive rally for ETH and altcoins in general.
Yet, there is something that traders often overlook. As long as the direction remains stable, interim drops can lead to losses of up to 20% but hold little significance on the weekly chart. Experienced traders understand what this means, and we have not yet received a signal confirming that the trend has turned bearish.
TraderMercury stated the following regarding the altcoin market:
“The most significant chart in the market right now is this one. It determines the health of the altcoin market on a broader scale. Yesterday’s analysis suggested, ‘hold here or we may drop to $3,000.’ It reached $3,100 and is now looking to retest that area.”
The final analyst, StockmoneyL, provided the latest evaluation for BTC and the market:
“After the recent fluctuations, almost all leveraged longs were halted or liquidated. The pendulum now swings toward upward liquidity. If I had to guess, I would say we are currently seeing a gradual trend toward the main resistance at $100,000.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
