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Analyst: "70% chance Bitcoin hits a new all-time high within 2 weeks"

Crypto markets turn green after the Fed's first rate cut of the year.

By Luc Vesters
• 2 min read

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After the first rate cut by the Federal Reserve this year, the crypto market is turning green. Bitcoin hit the psychologically important €100,000 mark and is currently trading around $116,900. View post on X suggests the chance of BTC hitting a new all-time high in the next two weeks is high.

The current Bitcoin record sits at $124,128, just 5.2% above the current price. Adler Jr. estimates the odds of a quick break above this level at 70%.

Futures and on-chain data bullish

The analyst points mainly to the futures market, where contracts are currently trading at higher prices than the spot price. That signals growing willingness among traders to open long positions. “If we see multiple green trend confirmations in the next few days, this could spark a strong rally,” View post on X.

Short-Term Holder MVRV Z-Scores are also positive. Readings for both the 155-day and 365-day investor groups are hovering around the zero line, indicating a healthy balance with no signs of overheating or extreme selling pressure, according to Adler.

Short pause could precede an uptrend

Bitcoin is currently trading a touch above the realized price of short-term holders. That, Adler says, could still lead to a brief consolidation of one to two weeks, followed by another move higher toward record levels.

ETF inflows as an extra engine

A key pillar of support is also the inflows into US spot Bitcoin ETFs. According to SoSoValue, $2.8 billion has flowed into these products since Sept. 9. That, Adler argues, confirms growing institutional demand, which, along with the macro environment, boosts the odds of an all-time high.

“Everything points to a steady move higher in the coming weeks toward new record highs. The odds right now are about 70 percent,” he concludes.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.