Analyst DonAlt, who is closely followed in the cryptocurrency market, shared the new price outlook for Bitcoin. The analyst, known for predicting the rise in XRP from $0.50 to $3.50, argues that Bitcoin has reached a critical technical threshold. This assessment coincided with the Bitcoin price approaching around $64,300 and investors awaiting the US Federal Reserve’s interest rate decision.
Critical threshold for Bitcoin
According to DonAlt, Bitcoin is in a border zone between a long-lasting decline and a new large-scale rise. The analyst marked this level with a red resistance line on the weekly chart and noted that if the price settles above this line, the outlook will improve significantly.
DonAlt states that in the current market structure, the outlook above the red line is positive, but he does not want to make a definitive prediction without seeing a clear confirmation, and if the weekly closing comes above this level, he may consider increasing the position.
The prominent indicator here is the weekly candle close. For large investors, this data is considered one of the closely followed technical signals to measure the strength of buyers.
Two scenarios stand out
When the current chart structure and macro agenda are evaluated together, two basic scenarios stand out for the market. In the first scenario, a strong weekly close for Bitcoin above the resistance zone between $66,600 and $68,000 could end the bearish trend and open an area that could push the price to new highs.
In the other scenario, if the buyers cannot maintain the current levels, there may be a risk of a retreat towards the $ 60,000 threshold. If the selling pressure deepens, the main support zone between $42,000 and $45,500 may be retested.
| Scenario | Monitored level | possible outcome |
| Rise | Weekly close above $66,600 and $68,000 | Breaking of the downtrend and the possibility of a new peak |
| Retreat | Failure to maintain current levels | Risk of a drop to $60,000, followed by a range between $42,000 and $45,500 |
Ethereum evaluation and whale purchases
DonAlt also stated that he sees a stronger outlook for Ethereum. According to the analyst, Ethereum’s chart indicates a faster and more orderly recovery compared to Bitcoin.
The analyst evaluates Ethereum as “the same as BTC, but better”.
While the market is trying to overcome resistance, data also draws attention that large investors are using the latest pullback as a buying opportunity. According to Santiment data shared by analyst Ali Martinez, large wallets defined as whales collected 29,075 BTC in the last week. Santiment is known as an analytics platform that tracks blockchain data and tracks market trends through major wallet movements.
