A widely followed crypto analyst says that Bitcoin (BTC) surging to a new all-time high (ATH) is still a very real scenario.
In a new thread, crypto trader Michaël van de Poppe tells his 792,000 followers on the social media platform X that the top crypto asset by market cap looks poised to hit a new ATH by the end of next month, also noting that he expects BTC to dip before skyrocketing.
“Bitcoin continues to push upwards and break the all-time high. I still think we’ll have a slight consolidation before the big breakout happens, which means that an all-time high is on the cards for July ’25.”
Van de Poppe says that in order for the crypto king to shatter its previous best, it needs to first hurdle a key resistance level at $108,900.
“Bitcoin has taken the liquidity. That’s great, there’s a lot of upside momentum here. However, this is the FINAL hurdle before a new ATH. I think we’ll consolidate slightly and break towards new ATHs in the coming 1-2 weeks max.”
According to the analyst, BTC rallying would also send altcoins skyrocketing due to them being short-squeezed, or a rapid increase in price driven by short sellers covering their positions.
“Altcoins are looking primed for a big move upwards. If Bitcoin is able to break up, Altcoins are likely to outperform. How? Massive short squeezes across the board accelerating the price action of those altcoins upwards vanishing losses away in days/weeks.”
Bitcoin is trading for $107,633 at time of writing, a fractional decrease during the last 24 hours.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Other Articles
No Comment! Be the first one.