Bitcoin, Ether near levels that could signal trend reversal: Analyst
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Bitcoin and Ether are each less than 10% away from price levels that could signal a potential reversal in the crypto market, according to a macro analyst.
Bitcoin and Ether aren’t far from levels that could signal a trend reversal this year, despite a growing consensus across the industry calling for a bear market, according to macro analyst Jordi Visser.
“If we trade above $76,000 and at the same time we see Ethereum above $2,400, I believe that is the beginning of a move that will be sustainable this year because I don't think we're going to have a recession,” Visser said on the Anthony Pompliano podcast published on YouTube on Friday.
A move to $76,000 would represent an increase of 6.1% from Bitcoin’s (BTC) price of $71,646 at the time of publication, according to CoinMarketCap data. Ether’s (ETH) move to $2,400 would represent an increase of around 8%.
Traders on the prediction market Kalshi are leaning toward a similar macro outlook to Visser, pricing a 24% chance of a recession in 2026, down 10% over the past 30 days.
“I think inflation is going to stay elevated, and I think people are going to need to find something that is making money in a world where the S&P is not moving anywhere,” Visser said.
The United States Bureau of Labor Statistics (BLS) revealed in a report published on Friday that the Consumer Price Index (CPI) in April rose 3.3% year-over-year.
Visser’s recent comments challenge the growing view across the crypto industry that 2026 still has more downside ahead, with some even calling for a move below the Feb. 6 yearly low of $60,000.
On March 31, veteran trader Peter Brandt said that this may not be the lowest level for 2026, forecasting that Bitcoin could retest or even move “slightly lower” than the price level in September or October this year.
“That would then be the bear cycle low,” Brandt said.
Related: Bitcoin charts point to $80K in April: Here’s how it may happen
Visser explained that he has never been a “big fan” of labeling Bitcoin price trends as bull or bear markets.
“Especially when we're at all-time highs. Like, at some point in there, it just seems like okay, they go up and then the normal course is at some point people don't invest as much as they have,” he said.
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Source: CoinTelegraph
