Market analyst Alex Krüger believes the recent crypto correction bears a strong resemblance to last August’s sharp downturn, with both driven by overlapping macro stress and investor liquidation rather than surface-level headlines.
Krüger downplayed the significance of political drama—including President Trump’s dismissal of the U.S. statistics chief or rising geopolitical tension—calling these “noise.” Instead, he attributes the sell-off to hawkish Fed pressure, persistent inflation, and profit-taking in equity markets, all triggering a cascade of leveraged position unwinding across crypto.
Drawing comparisons to the August 2024 crash, which began with Japan’s rate hike and deteriorating job data, Krüger notes that while the causes differ, the mechanics of fear-driven exits are nearly identical. Despite the turmoil, he suggested the market may have already found a local bottom—or will by early next week—adding that he’s positioning long ahead of Monday’s U.S. session.
Sector-Specific Headwinds Mount
Krüger also pointed to cracks within crypto itself. Concerns over Coinbase’s weak financials, potential changes in MicroStrategy’s equity issuance model, and uncertainty around Ethereum-based treasury structures have added pressure. Even so, he described the SEC’s “Project Crypto” as a net positive—one that could eventually enable regulatory clarity and on-chain securities compliance.
Fed Pivot in Sight?
Looking ahead, Krüger expects Jackson Hole to be a key moment, potentially shaping expectations for a September rate cut. The recent resignation of Fed Governor Kugler could also tilt future policy more dovish if Trump fills the vacancy with a softer voice, potentially countering Chair Powell’s stance.
Despite short-term noise, Krüger remains optimistic over the medium term. He believes that easing monetary policy combined with growing adoption could set the stage for Bitcoin to reach $200,000–$250,000 by mid-2026. Risks remain—namely from inflationary trade policies and slowing momentum in institutional crypto models—but for now, he views these as secondary.
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Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/crypto-markets-mirror-2024-crash-as-expert-calls-local-bottom/