in Video update, Miles Deutscher, a widely followed cryptocurrency expert, provided his 502,800 followers on X with an in-depth analysis of current market conditions. This update came in response to what Deutscher described as “massive repercussions” for some altcoins following the notable rise in Bitcoin prices.
Deutscher began his discussion by pointing to a significant rise in the price of Bitcoin, which rose from $68,500 to more than $71,000. This move is consistent with his observation of large inflows into Bitcoin ETFs, which he highlighted as reaching nearly $900 million in a single day. This number is spread across different funds, with Fidelity, BlackRock, and ARK contributing the largest stocks.
“This is the highest inflow Bitcoin has had since the big hack in March,” Deutscher stated. He linked these inflows to broader bullish sentiment in the market, suggesting that they indicate strong institutional interest not seen since Bitcoin's previous highs of $74,000.
Altcoin Strategy Game #1: BNB Ecosystem
Shifting focus to the altcoin market, Deutscher focused on Binance Coin (BNB) and its related tokens. He detailed BNB's performance, noting that it broke to all-time highs and defied typical market gravity. He advised potential investors to consider entering into positions after the final weekly close.
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“When a currency is in a price discovery phase, it is often very difficult for that coin to fade. If you are interested in buying here, wait for a close above the weekly if you are a higher time frame trader, and then you will have a very clear invalidation of that phase,” Deutscher said. The next one is on the upside.
In the BNB ecosystem, Deutscher pointed to specific tokens that are poised for growth, especially FLOKI and Cake. FLOKI, which received analyst approval as “one of the leading cryptocurrencies on the Binance Smart Chain,” showed similar price movements to another meme coin, Pepe. By observing these patterns, Deutscher predicted a potential 20% upside for Floki stock after its breakout.
Cake, known for its role as the largest DEX on the Binance Smart Chain, has started to show promise by regaining key support levels. “Cake is an interesting play. Since Cake, on the weekly chart, has been quite unimpressive, but is now finally starting to show signs of wanting to reclaim this key support level, (…), reclaiming this level may… Sends it to $5.
#2 Ethereum is ready to surprise
A large portion of Deutscher's analysis is devoted to Ethereum and the speculative effects on upcoming spot ETFs in the US. He discussed how Ethereum's underperformance compared to Bitcoin could create a profitable buying opportunity ahead of the launch of an ETH ETF.
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Deutscher cited market sentiment from various tweets, suggesting a general consensus that Ethereum may underperform in ETF flows, which he believes is an undervalued view.
“Given the fact that Bitcoin is rising significantly, Ethereum inflows could be a surprise,” he explained. “The ETH chart hasn’t achieved as much as you think it will, considering they are on the verge of a major major catalyst, which suggests that the market is perhaps underestimating Ethereum’s attractiveness to investors.” Institutionalists.
#3 Crypto Trend: Real World Origins
Third, Deutscher explored the concept of real asset staking (RWA) as an emerging investment opportunity within the Ethereum ecosystem. He pointed to Ondo Finance as an industry leader, which has already demonstrated strong performance and potential for further gains.
“It's actually consolidating to form another bullish flag here on the hourly and 4-hour chart after breaking above the $1.33 level. The price action here is absolutely stunning. It's a thing of beauty,” Deutscher noted.
He also highlighted projects like Mantra and Pendle as other major players benefiting from the shift towards RWA staking. “Mantra recently announced its stakes as well. Pendle is clearly a platform that enables you to generate yield. That's a clear beneficiary. These tokens, in my opinion, have been the RWA leaders, (…). All of these can do well.”
At press time, Ethereum was trading at $3,799.
Featured image created with DALL·E, chart from TradingView.com
