Crypto Analyst Weighs In on Bitcoin (BTC), Two Top Ethereum Layer-2 Solutions and One ETH Competitor

A widely followed crypto analyst says that there’s a chance that Bitcoin’s (BTC) recent rally may be tapped out.

Crypto analyst Michaël van de Poppe tells his

679,000 followers on the social media platform X that the buzz surrounding BTC generated by rumors of an exchange-traded fund (ETF) approval has probably reached a limit.

“Bitcoin is probably getting topped out around the ETF approval and will move inside a range. 

That range, and the recent week, is a signal for strength on the remainder of the markets to catch up.

Ethereum is likely to run to $3,000+.”

BTC is worth $42,455 at time of writing, down 3% in the last week. As for Ethereum (ETH), the leading smart contract platform is currently worth $2,361.

Looking at Polygon (MATIC), Van de Poppe says the ETH layer-2 scaling solution has been falling behind other top altcoins like Solana (SOL) and Avalanche (AVAX).

“Lagging behind on SOL and AVAX but starting to get momentum.

Anything in the $0.89-0.96 region is an excellent entry at a retest. 

Continuation seems likely towards $1.30.”

MATIC is trading for $1.01 at time of writing, up 29% in the last week.

The analyst also breaks down the ETH layer-2 scaling solution Arbitrum (ARB), saying the MATIC competitor could explode up to the $2 range.

“I’ve posted some updates on ARB.

Retest at $0.98 did work, continuation towards $1.35 as well and even further. 

Some beautiful S/R (support/resistance) flips, I think $1.40-1.45 should hold and we can continue to $2.”

ARB is worth $1.52 at time of writing.

Van de Poppe also takes a peek at the smart contract platform Near Protocol (NEAR), saying that he expects the Ethereum rival to cool off after a recent major run-up.

“Massive run upwards as it rallied with more than 100%. 

Expect a more extended period of consolidation before another impulse is likely to occur.

In that regard, not interested until we reach

NEAR is trading for $3.84 at time of writing, down 5% on the last day.

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The post Crypto Analyst Weighs In on Bitcoin (BTC), Two Top Ethereum Layer-2 Solutions and One ETH Competitor appeared first on BitcoinLinux.