Bitcoin Correction Begins, Analyst Says It’s Time to Accumulate for Next Crypto Run
Main Idea
Bitcoin has entered a correction phase, with analysts suggesting it's a good time to accumulate for the next rally, while Ethereum and altcoins show strong performance indicators.
Key Points
1. Bitcoin is currently trading near $114,670, with analysts identifying $110K–$112K as a prime accumulation zone.
2. Analyst Michaël van de Poppe suggests August may be a month of stabilization before a potential rally later in the month.
3. Ethereum has surged 170% from recent lows to trade near $3,850, with institutional buyers acquiring over $2.5 billion worth of ETH.
4. Retail activity has increased, with Bitcoin transactions under $10,000 rising by 9.7%, and the Altcoin Index from CoinMarketCap showing strength in top 100 coins.
5. Ethereum futures volume recently hit $223.6 billion, making up 83% of total volume, and 401 of 424 altcoin futures pairs on Binance have posted positive returns since Bitcoin's recent ATH.
Description
Bitcoin has entered a correction phase, currently trading near $114,670. Analysts identify $110K–$112K as a prime accumulation zone. Michaël van de Poppe suggests August may be a stabilization month before Bitcoin and altcoins resume their upward momentum. Bitcoin has begun a healthy correction after its parabolic move to an all-time high above $123,000 in July. According to analyst Michaël van de Poppe, this phase offers a critical opportunity for accumulation ahead of the next major leg up. “I...
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