Bitcoin is trading at $51,719 while altcoins show relative stability. A market correction is anticipated as inflows into spot Bitcoin exchange-traded funds (ETFs) level off, though a specific timeframe remains uncertain. Notable cryptocurrency analyst DonAlt expects Bitcoin’s price to decline, marking $58,000 as a significant resistance level. He predicts intense selling pressure following an approach to this resistance, possibly leading to a retracement toward $46,000 or lower.
Expert Predicts Potential Bitcoin Downturn
Respected within the crypto investment community, DonAlt sees the $58,000 mark as a significant threshold. Although he believes it could be touched briefly, he views it as a temporary peak before a considerable sell-off. The decline that may follow this peak is expected to bring prices down for a corrective phase.
Considering the Right Moment for Bitcoin Investment
Bitcoin’s price could test its all-time high due to factors like the halving and spot Bitcoin ETFs. Once facing strong resistance at $32,000, Bitcoin’s surge has transformed that level into a daunting support hurdle. DonAlt deems the $32,000 to $35,000 range as the ideal buy zone due to its historical significance as support, predicting a sharp rebound from these levels if tested.
As traders monitor these predictions and market movements, the climate of uncertainty continues to define the cryptocurrency landscape. Investors remain vigilant for the right entry points, while analysts like DonAlt guide their expectations and potential strategies.