Crypto Market Outlook: Analysts Predict Bull Run and Bitcoin Decline
Cryptocurrency analyst Michael van de Poppe anticipates a looming bull market, citing lower-than-expected inflation data. The Consumer Price Index (CPI) rose 0.2% in February, below the projected 0.3%, with a 12-month increase of 2.8%, down from 3% in January. This trend may reduce Fed rate hikes, favoring Bitcoin and altcoins. Conversely, Mike McGlone notes Bitcoin's momentum shift towards gold, with gold ETFs gaining while Bitcoin ETFs see outflows. Bitcoin fell below $80,000, and Ethereum dropped under $2,000, reflecting a decline in risk assets. McGlone expects this downturn, aligned with stock market movements, to continue through 2025. Both analysts highlight the interconnectedness of crypto and traditional markets, signaling a potential bearish trend for crypto assets.
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