Has The Crypto Market Bottomed? Analyst Says ‘This Is It’
Macro analyst Alex Krüger suggests the recent crypto market sell-off may represent a tradable low, similar to the August 2024 crash that bottomed on a Monday. He plans to increase long positions if the overnight session remains volatile. The current decline is viewed as a shakeout rather than a new downtrend, influenced by macroeconomic factors such as a hawkish Fed, mixed Big Tech earnings, and disappointing payroll data. Recent PCE inflation data showed a year-over-year increase to 2.6%. Earnings reports from major companies contributed to a risk-off sentiment, with Coinbase's poor performance negatively impacting crypto sentiment. Geopolitical tensions, including U.S. nuclear submarine repositioning, added stress to markets. Krüger identifies several bearish narratives in crypto but highlights the SEC's new policy push as a positive development. He remains bullish on crypto into Q4, citing a solid U.S. economy and potential Fed rate cuts, with a long-term Bitcoin target of $200,000–$250,000 by mid-2026.
