Glassnode data shows that Wall Street investors have made up to $1 billion in inflows into Bitcoin ETFs. This great buildup indicates massive purchasing power and positive sentiment. Ted anticipates that the cost of Bitcoin will increase to $125-130k by the end of the third quarter.
Another professional, Trader Tardigrade, predicts the price of Dogecoin to rally and reach the price of $0.42, followed by a surge to the price of $1.46.
Institutional Interest In Bitcoin Could Fuel Uptrend
Wall Street recently injected over $1 billion into spot Bitcoin ETFs, marking a significant institutional inflow into the cryptocurrency market. Glassnode reports that this week’s net inflows totalled around $1.04 million (9,722 BTC), driven by expectations of Federal Reserve rate cuts and a weakening US dollar following discussions about leadership changes at the Fed.
Another drop of the dollar in July may also speed up the inflow into Bitcoin ETFs. Meanwhile, the Bitcoin price is up by 2.1% in the weekly timeframe. The flagship cryptocurrency currently faces strong resistance at around $108k.
Breaking past this level could ignite a major Bitcoin price rally. On the downside, Glassnode data shows that the cryptocurrency has a strong support at $93k–$100k. As long as the Bitcoin price stays above this level, the chances of a bullish jump are high.
Ted Pillows forecasts that the price of Bitcoin could rally to $125K-$130K in the third quarter. RJT_WAGMI says the gold fractal is unfolding on Bitcoin with remarkable precision, noting that every phase in the pattern is aligning perfectly.
According to the analyst, this historical correlation suggests a strong bullish trajectory for Bitcoin. Based on the current structure and projections, he believes a move to $150k-$180k in 2025 is simply a matter of time.
Dogecoin Poised For Massive Pump, Bitwise Modifies S-1 DOGE ETF Filing
Over the past few days, the price of Dogecoin has ranged between $0.16 and $0.17. The memecoin had dipped to $0.14 on Sunday, causing investors to lose confidence in it. However, reduced market volatility and rising odds of a DOGE ETF approval led to a significant increase in buying pressure.
The latest news in the Dogecoin community, according to Bloomberg Intelligence analyst Eric Balchunas, is that Bitwise has made some changes to its Dogecoin ETF S-1 filing. Eric tagged it as a positive development, signaling engagement from the SEC.
Given this rising interest, the Dogecoin price could skyrocket soon. A famous crypto analyst Trader Tardigrade compared the historical price dynamics of the memecoin to the current market cycle. In his analysis, Dogecoin has risen in the past between 2016 and $2018, between $0.0003 and $0.0026 and then to $0.009.
Comparing this historical trend to the present cycle, Tardigrade says that a similar trend may occur, propelling Dogecoin to $0.42. In the long run, the analyst expects the value of DOGE to rise to $1.46 and eventually to $4.
Final Words
Institutional momentum and technical patterns are aligning to support a bullish outlook for both Bitcoin and Dogecoin. The uptrend is promising with more than a billion dollars of Wall Street inflows and analysts targeting $125K-$130K on Bitcoin. Also, the Dogecoin price may pump $1.46.
