Me# Bitcoin price analysis
#bitcoin
Bitcoin (BTC) broke through the psychological $70,000 barrier on May 27 after three days of struggle. This shows that the bulls are still in control. However, some analysts do not believe a breakout is likely in the next few days. Rekt Capital analyst emphasized that the post-halving re-accumulation phase typically lasts for 160 days. Therefore, Bitcoin could continue to move sideways for a few more weeks.
Bitcoin's lackluster performance and approval for spot Eth ETFs have shifted focus to Eth. Some analysts are bullish on Eth and they expect it to increase in price.
DeFiance Capital founder Arthur Cheong said in an X post that Eth could rise to $4,500 before the launch of spot ETFs.
It's not just Eth; Analysts are also optimistic about altcoins. Analysts believe that, similar to previous cycles, following the bull run of Bitcoin and Ether, it is time for altcoins to catch up.
Can Bitcoin and Eth Lead Crypto Markets to Higher Levels? #Bitcoinbounced from the 20-day EMA ($66,798) on May 24 and rose above $70,000 on May 27, showing that bulls are trying to consolidate their hold.
The bears continue to sell during the price increases of #bitcoin . There have been whales selling to take profits when the price increases this time, making it highly likely that Btc will continue sideways.
Be careful with your wallet, any fluctuations can cause BTC to change price.