CandleFocus Solana Surges Past $160, Veteran Analyst Stresses Bitcoin Must Break $70K for Any ‘Long Yellow Fruit Seasons’
2024-10-21
Author: Content Editor
Macro analyst Raoul Pal believes that while Solana (SOL) has shown strength by surpassing $160, Bitcoin (BTC) must break $70,000 for the market to sustain its bullish momentum. Altcoins, particularly Solana, have been driving the recent rally in the crypto market, with SOL reaching a high of $169. Bitcoin has been steadily approaching $70,000, which has fueled optimism across the market. Pal emphasizes that BTC surpassing this critical level is essential for the sustained bullish sentiment. He also supports analysis that suggests Bitcoin could potentially reach $80,000 as the U.S. elections approach in November. The recent Federal Reserve rate cut announcements have contributed to improved crypto market sentiment, reinforcing Pal's long-term optimism for Bitcoin's upward trajectory.
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