Recent price movements suggest that leading crypto Bitcoin could be on the cusp of another surge. According to a report from 10x Research, breaking through a key resistance level could signal the end of the current bearish trend, as Bitcoin and some altcoins are already showing signs of recovery.
A key resistance crossed, a signal of trend reversal
Recent months have seen a notable correction in Bitcoin's price, with a succession of lower highs since March. However, experts at 10x Research believe that this bearish trend could come to an end if Bitcoin manages to break through the key $65,000 threshold. This resistance level is seen as a pivot point for the cryptocurrency, which if broken could pave the way for a rise towards the $70,000or even beyond, in a context of recovery.
This forecast is supported by medium-term technical indicators that are showing encouraging signs, despite a period of overbought in September. Indeed, after this brief rise, Bitcoin entered the overbought zone, but the data is now showing signs of stabilization. The crossing of the level of $65,000 could thus signal a return to the rise, reinforcing investors' confidence in risky assets.
Altcoins in Bitcoin's wake
Alongside Bitcoin, the altcoin market could also see a strong surge in activity if the bullish trend continues. According to 10x Researchhigh-volatility altcoins, especially those with smaller capitalizations, appear well positioned to take advantage of this dynamic. Cryptos like TAO, ENA, SEIAnd APT are particularly attracting the attention of investors for their growth prospects in an environment marked by a renewed interest in decentralized finance (DeFi).
Regarding Ethereumalthough its fundamentals remain less strong, technical signals indicate a possible recovery. However, analysts remain cautious about the possibility of Ethereum reaching its all-time highs again. A significant rise is possible, but it could be limited compared to previous peaks. However, this does not detract from the opportunities that this recovery could offer, not only for Ethereum, but also for the broader altcoin market.
Crossing the level of $65,000 could well be the catalyst expected to revive Bitcoin’s bullish trend, taking the entire altcoin market with it. If this momentum were to continue, the coming months could see significant gains in the crypto sector, especially for lower-cap assets.
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