As the Bitcoin price hovers just 4% below its all-time high of $123,000, crypto analyst Doctor Profit has issued a new report that could spark increased bullish sentiment among investors, suggesting that a new rally could be on the horizon.  Bitcoin Price Poised For Growth After Major Trade Deal In a recent post on the social media platform X (formerly Twitter), Doctor Profit highlighted a significant technical development for the Bitcoin price, noting that the cryptocurrency has recently broken through a diagonal resistance line on its monthly chart—a barrier that had proven insurmountable for several months. According to the analyst, the Bitcoin price faced repeated rejections at this crucial resistance level from November 2024 through February 2025.  However, this month marked a decisive breakout for the cryptocurrency, followed by a successful retest of the $114,000 level last Friday and a “strong bullish impulse” forming.  Related Reading: Memecoins, NFTs Get Called Out By Their Own Architect: ‘Zero Intrinsic Value’ Doctor Profit emphasized that this breakthrough signals a potential upward movement, asserting that the market is primed for the next leg up. He even predicts that the “bullish chart” will soon dominate discussions across social media. Adding to this optimism are recent developments surrounding a US-Europe trade deal announced on Monday by the White House. Doctor Profit noted that tariffs have been a lingering concern for both the Bitcoin price and the broader stock market, suppressing momentum.  However, the analyst asserts that the announcement of a new trade agreement—valued at $750 billion in US energy exports and $600 billion in EU investments—has alleviated some of that pressure.  Links Between M2 Money Supply And BTC’s Potential On a macroeconomic level, Doctor Profit highlighted the M2 money supply as a crucial factor influencing the Bitcoin price trajectory. Following a 25% expansion of M2 in 2020 due to pandemic-related measures, Bitcoin experienced an 800% rally.  Currently, M2 has increased by 2.3% since the beginning of 2025, despite ongoing quantitative tightening measures by the Federal Reserve (Fed). The analyst  believes that this indicates that the Fed may be poised to adopt more aggressive monetary policies in the near future. Related Reading: Ethereum Is About To Breakout Of Massive Consolidation Toward $5,000 Historical data suggests a correlation between increases in M2 and Bitcoin price movements, with the analyst estimating a potential upside of 30-35% for Bitcoin with every 1% increase in M2.  The most significant expansion has occurred in recent months, particularly between May and June 2025, when M2 saw a monthly increase of 0.63%.  Given Bitcoin’s typical lag in response to M2 changes—approximately 60 to 90 days—there is speculation that this could lead to a 15-17.5% rally in the coming weeks, positioning Bitcoin toward the $130,000 mark. Looking ahead, the Federal Open Market Committee (FOMC) meeting is slated for Wednesday, with a strong expectation of no interest rate cuts. As of this writing, the market’s leading cryptocurrency trades at $117,569, up nearly 71% on a year-to-date (YTD) basis.  Featured image from DALL-E, chart from TradingView.com  Source: newsbtc.com (Read Full Article)

Despite what is akin to a bull market with the Bitcoin price hitting multiple new all-time highs, the Ethereum price continues to hit major resistances in its campaign for new highs. The most recent is the resistance push at the $3,800, which perfectly aligns with the 4-year resistance line that has kept the leading altcoin by market cap from hitting new all-time highs. However, as Ethereum once again gears up for a retest, this time could be the chart that signals the breakout. Ethereum On The Verge Of Breakout Crypto analyst MMCrypto highlighted a possible breakout on the Ethereum price chart after the altcoin moved back toward a 4-year resistance trendline. This trendline had begun back in 2021 when the Ethereum price had hit its $4,800 all-time high, and since then, it has become the resistant trendline to beat for the ETH price to rally to new highs. Related Reading: Dormant Whale Sells $80,000 BTC, But Bitcoin Bulls Still In Control Over the last four years, this resistance trendline has held firmly, beating the Ethereum price back down from the $4,000 level. This has prevented a rally toward its $4,800 and made the $5,000 expected target push even farther away. But now, there could be another opportunity for Ethereum to turn the tide and break this resistance once and for all. Currently, the ETH price is still trending below $4,000, suggesting that the bears are still holding the resistance line. With the price trading below this resistance, MMCrypto points out that ETH has now been underperforming for four years. Given this, a large number of investors have lost money on their investments or haven’t seen a profit. The major target now is for the resistance to be broken. The crypto analyst explains that once this happens, then the Ethereum price could see a monumental pump from here. This pump, he explains, will be fueled by investors who have yet to realize any profit on their ETH holdings over the last four years. Related Reading: XRP Bullish Cross Playing Out Again: $9 Or $24 Next? With the expectation that the resistance trendline will be broken, the analyst urges investors to be patient. He points out that once the pump begins, those who were patient will be the ones to reap the profits of this ETH price action. Additionally, Ethereum will not be the only altcoin to benefit from a pump. Previous altcoin seasons have been sparked by movements in the Ethereum price, and if ETH is able to break toward a new all-time high, then the altcoin market is expected to follow suit. “The Ethereum Pump if & when it happens, will have a broad influence on the whole Crypto Space & take many Altcoins with it! Be ready, be prepared,” the analyst said in closing. Featured image from Dall.E, chart from TradingView.com Source: newsbtc.com (Read Full Article)