Analyst: Bitcoin and Ethereum Approach Critical Price Levels, Possibly Signaling Market Trend Reversal

Odaily News Macro analyst Jordi Visser stated that despite widespread market expectations of the crypto industry entering a bear market, Bitcoin and Ethereum are less than 10% away from key levels that could trigger a trend reversal. He pointed out that if Bitcoin breaks above $76,000 and Ethereum rises above $2,400, it could signal the start of a sustained uptrend lasting throughout the year.

Visser believes the probability of a US economic recession in the short term is low, a judgment that aligns with the pricing of the prediction market Kalshi, which currently estimates the probability of a recession by 2026 at approximately 24%. He also noted that against a backdrop of persistently high inflation and a lack of clear growth momentum in traditional markets (such as the S&P 500), capital may continue to flow into asset classes with yield potential.

However, market opinions remain divided. Veteran trader Peter Brandt recently suggested that Bitcoin's low for the year may not yet be in, and the price could retest or even fall below the $60,000 range. Visser emphasized that the market should not be simplistically divided into bull and bear cycles, but rather judged from the perspective of longer-term structural and liquidity changes. (Cointelegraph)