A widely followed economist believes that the next few days will bring green candles for Bitcoin (BTC) and crypto.
Alex Krüger tells his 214,400 followers on the social media platform X that he is bullish on the crypto market following last week’s corrective move.
[adinserter block="1"]According to the economist, altcoins are starting to show signs of market stability, indicating that a reversal may be on the horizon.
“Most crypto charts now look so broken and bearish that it is bullish. Long liquidations have been significant. Mainly the last two rounds after the close yesterday. I’m bullish into next week and positioned accordingly at the moment (after puking in style earlier in the day).
Remember that the time to long is when everybody is panicking, and not when we are all celebrating… Notice how today’s move was mainly BTC and ETH getting dumped, while alts stopped crashing earlier. Often a sign of upcoming strength. Not expecting things to trend until after the FOMC (the Fed should still cut and this is not fully priced in). Even if we were to go down from here, feel extremely confident this is not the end of the cycle.
Also, not expecting a blow-off top this year at all, don’t think the conditions for a major manic run higher later in the year will be there for anything other than maybe SOL (due to the new digital asset treasuries piling up). Sharing some charts below. Check the skew in there (high skew = puts more expensive than calls = fear).”
Krüger also says that he expects the market to be volatile until the Federal Open Market Committee (FOMC) meeting happening on September 16th to 17th. He adds that he expects the end of the crypto bull market to take place next year.
“Think playing ping pong from long liquidations to short liquidations until the FOMC starts a trend
But a 25 basis points cut, even if not fully priced in, would not be a surprise, so don’t see what triggers the blow-off top people are calling for.
I think that could come only in 2026 when we see dramatic changes in the composition of the Fed.”
At time of writing, Bitcoin is trading for $107,772.
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Generated Image: Midjourney
