According to analyst Michael Van De Poppe, Bitcoin's price could reach a new all-time high due to several key factors, such as the Fed's rate cuts, whale accumulation, and the approval of ETFs.

Fed Rate Cuts and Economic Outlook

One of the main reasons for Bitcoin's price rise in 2024 is the growing expectation that the Federal Reserve will cut interest rates. Michael Van De Poppe points out that rate cuts make investments in alternative assets, such as #bitcoin☀️ , more attractive. This outlook increases investors' interest in riskier assets, bringing more liquidity into the market.

Besides the Fed, Van De Poppe also highlights other macroeconomic factors, such as strong results on Wall Street and growing investor confidence, which are helping Bitcoin rise.

Whale Accumulation Signals Institutional Confidence

Another important signal is the increase in whale activity – large Bitcoin holders. According to on-chain analysis, Bitcoin accumulation by whales has accelerated since mid-2024. Van De Poppe emphasizes that similar accumulation patterns were seen before bull runs in 2020 and 2021 when Bitcoin reached new all-time highs.

Whales typically accumulate Bitcoin during price consolidation periods, signaling their belief in future price growth. This kind of accumulation often leads to significant price movements.

Technical Indicators Show an Imminent Breakout

Van De Poppe's technical analysis suggests that Bitcoin is nearing another breakout. He points to Bitcoin's two-month logarithmic chart, which mirrors previous bull cycles. Historical patterns show that Bitcoin consolidates for an extended period before quickly recovering and rising.

Van De Poppe believes that if Bitcoin maintains its position above the key resistance level of $65,000, it could trigger a move toward a new all-time high, potentially surpassing $100,000 in 2025.

Declining Stablecoin Dominance

Another factor supporting Bitcoin's growth is the declining dominance of #Stablecoins . Since mid-2024, investors have been shifting funds from stablecoins to more volatile assets like Bitcoin, bringing more liquidity into the market. This trend suggests a growing appetite for risk and a shift toward Bitcoin.

Bitcoin ETFs and Institutional Interest

One of the main catalysts for Bitcoin's rise is the approval of Bitcoin ETFs on the NYSE. This product allows institutional investors to access Bitcoin through a regulated financial instrument, increasing market liquidity. Historically, the approval of ETFs has boosted demand for Bitcoin and helped push its price higher.

Van De Poppe highlights that the introduction of more Bitcoin-related financial products could attract even more institutional interest, supporting Bitcoin's long-term price growth.

#BTC☀ , #BitcoinETF💰💰💰 , #BitcoinPrice2024

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