Summary

Bitcoin and select altcoins have initiated a recovery, though elevated price levels may incite strong selling pressure from bears. Will Bitcoin reach the milestone of $100,000?

Key Insights:

• Bitcoin has encountered selling pressure around $89,000, yet bulls maintain a foothold, indicating a potential rise to $93,500.
• Several significant altcoins are on a recovery path but may also see selling at increased levels.

Price Predictions

Bitcoin (BTC) Analysis

• Bitcoin’s recovery appears to be drawing to a halt, with bears pushing for prices to stay below $88,000. Veteran trader Peter Brandt expressed skepticism regarding the current recovery, labeling it as a potential ‘dead cat bounce.’

“Currently, the recovery seems to be a dead cat bounce.” (Translation: Currently, the recovery seems to be a temporary upside before downward pressure resumes.)

Timothy Peterson’s Outlook

• Conversely, economist Timothy Peterson provided a more hopeful perspective, citing an AI-driven model projecting a 15% likelihood for Bitcoin to close beneath $84,500 by year-end, while under 50% odds for reclaiming $100,000 by December 31.

Augustine Fan’s Comment

• SignalPlus’s Augustine Fan also noted that Bitcoin may have established local lows and expects prices to range from $82,000 to $92,000 unless the price consolidates below $78,000, opening the potential for a sharper drop.

Detailed Assessments on Major Cryptocurrencies

• The article also includes price predictions for Ether (ETH), XRP, BNB, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), HYPE, Bitcoin Cash (BCH), and Chainlink (LINK), outlining key resistance and support levels alongside market sentiments.

Disclaimer

This article does not provide investment recommendations. Each investment decision involves risks, and readers should conduct their own due diligence.