The cryptocurrency market seems oddly quiet, like the hush before a storm. As the fourth Bitcoin (BTC) halving looms just 25 days away, there’s been a notable surge in cash flowing into crypto over the past couple of months.
Despite this, the latest weekly report from CoinShares tells a different story, showing a significant drop in cash flowing into crypto investment products. Last week marked the end of a seven-week streak as investors pulled out a staggering $942 million from such products.
Here’s everything you need to know.
Bitcoin Bulls Take a Breather
After hitting a new all-time high (ATH) of around $74k, Bitcoin’s price has been struggling to break through this psychological barrier in recent days. Though the flagship cryptocurrency has validated the macro bull cycle, noted crypto analyst Michaël van de Poppe suggests a consolidation phase might come before more bullish moves.
In the short term, Poppe predicts Bitcoin’s price will climb to fresh heights between $75k and $80k before the halving, followed by a mid-term correction.
Also Read: Crypto Analysts See Looming Correction Ahead For Bitcoin, Before Hitting $80K
Altseason Ahead – Opportunities for You!
As Bitcoin consolidates in the coming weeks, Poppe highlights the potential of altcoins amidst the ongoing rotation of crypto assets. Notable contenders include layer one (L1) projects, AI-focused cryptocurrencies, DeFi platforms focusing on real-world asset (RWA) tokenization, and layer zero projects.
Among altcoins with significant bullish potential, Chainlink (LINK), UBXS (UBXS), Polkadot (DOT), Cosmos Hub (ATOM), and Ethereum (ETH) stand out.
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What are your top picks for altcoins to watch in the coming weeks?