With Bitcoin finally breaking $100,000, traders are asking where it can go next. Several analysts predict new highs for the tokens, which is also good news for altcoin. Ethereum and MemeFi token Cutoshi are seeing bullish momentum because of this.
Bitcoin Technicals Suggest $110k Soon
Bitcoin (BTC) continues to break all-time highs, with investors expecting more highs soon. After reaching an ATH of $103,900, the biggest crypto asset broke through the psychological level of $100k. Regulatory news will likely drive it forward.
The latest surge came after Trump nominated the pro-crypto lawyer Paul Atkins to lead the Securities and Exchange Commission. The nomination is key, as the SEC has so far been a major stumbling block for crypto projects in the US. While Bitcoin was never a target for the SEC, a more favorable regulator will boost crypto across the board. This will also benefit Bitcoin.
In the short term, crypto analysts expect a $110K target. Analyst Elija Boom pointed out a cup and handle pattern, suggesting a potential breakout for the token. If this scenario plays out, Bitcoin could shoot to $11k very soon and go further from there.
https://x.com/Eljaboom/status/1829830166807261303
Still, the path to $110k may not be smooth. If bullish sentiment drops, Bitcoin could face a correction to $40,000. Several traders pointed out this price point as an optimal entry point and if the key supports break, Bitcoin risks falling to that level.
Ethereum Follows Major
Ethereum (ETH) has been on a steady uptrend recently, breaking the key $4,000 level. According to experts and technical analysis, Ethereum is on track to reach new highs.
On December 7, Ethereum was trading at $4,012, reclaiming key psychological support. The rally came after Ethereum ETFs achieved over $2.6 billion in net Inflows in the last 30 days. In particular, the recent week was particularly strong for the token, seeing $800 million in that period alone.
As institutional investment in Ethereum grows, the token is on track to surpass its all-time high of $4,891.70 in November 2021.
Cutoshi Gains over $1.3 Million In Investments
As the Bitcoin rally boosts Ethereum, Cutoshi (CUTO) is driving retail interest with its memeFi approach. Cutoshi has raised over $1.3 million in presale investments, winning it viral status among investors.
The token broke the $1 million milestone just weeks after the launch of its presale, igniting bullish speculation. Most recently, memecoin traders are looking for projects that take real utility seriously.
Cutoshi, on its own end, is a combination of memes and DeFi. While it has the Chinese Lucky Cat as its avatar, it is also a project that takes decentralization seriously. Like its inspiration, Satoshi, Cutoshi wants to bring more people into decentralized technology.
At its core is the Cutoshi Multichain DEX, which will enable traders to retain custody over their crypto and use DeFi seamlessly. The DEX will feature an intuitive user interface, low fees and multichain support, making DeFi easy for users with less experience. If the project delivers on these features, Cutoshi may become a big player in this field.
For more information on the Cutoshi (CUTO) Presale:
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