Fundstrat’s Mark Newton Dismisses Cryptocurrency Peak Concerns

Fundstrat’s Mark Newton, CMT, refutes claims that cryptocurrencies have peaked, highlighting ongoing technical indicators suggesting continued bullish potential as shared on social media recently.

Newton’s analysis holds significance for institutional and retail investors, reinforcing a buy-the-dip strategy in Ethereum and Bitcoin amid market sentiment not indicating a peak.

Fundstrat’s Bullish View on BTC and ETH Uptrend

Newton’s analysis suggests a crucial insight into market trends, emphasizing the significance of technical indicators like Elliott Wave structures and DeMark signals. These have not triggered warnings typical of market peaks, maintaining a prospect of further growth for BTC and ETH. Market sentiment remains below typical peak levels, supporting the potential for ongoing bullish trends.

Reactions to Newton’s analysis have been varied, with some market participants acknowledging Mark Newton’s insights and his technical expertise. Newton’s insights are reportedly aligned with broader institutional views favoring a bullish outlook on cryptocurrencies.

Mark Newton, Head of Technical Strategy, Fundstrat, stated, “Bitcoin and Ethereum have not reached their peak prices… the Elliott-wave structure does not show signs of a peak… DeMark signals have not yet triggered… the uptrend since 2022 remains intact… MACD turning negative due to consolidation is not decisive… sentiment is far from peak” (source).

Historical Context, Price Data, and Expert Insights

Did you know? Market peaks often coincide with parabolic moves and euphoric sentiment, conditions not currently present according to Newton’s analysis.

As per CoinMarketCap data, Bitcoin (BTC) trades at $109,949.07 with a market cap of $2.19 trillion. BTC’s 24-hour trading volume stands at $24.48 billion, marking a decrease of 53.97%. Price fluctuations reflect reductions of 3.13% over 24 hours and 8.57% over 30 days. Its circulating supply is 19,943,231 out of a max 21,000,000, supporting a market dominance of 59.23%.

Expert analysis from Coincu highlights ongoing potential for growth in cryptocurrency markets, driven by favorable technical and sentiment indicators. These factors, coupled with Newton’s perspective, underline a supportive environment for continuing upward trends.