Tue, Aug 5, 2025, 10:30 PM 2 min read
In This Article:
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) could see a strong end to the year, according to fresh technical analysis by a prominent market observer.
What Happened: Pseudonymous analyst Virtual Bacon stated that a Q4 rally hinges on whether August's uncertainty clears by September.
He highlights Bitcoin dominance as a critical factor for altcoin strength, which could drop going into Q4.
Don’t Miss:
-
The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.
-
Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM—Secure $0.63 Shares Before 8/14
Bacon warned that even a slight rise in Bitcoin dominance could hurt low-cap altcoins, while larger caps like ETH or Binance Coin (CRYPTO: BNB) remain resilient.
-
Bitcoin: Bull market support sits at $91,500. Bacon expects possible weakness in August, targeting the 20-week SMA near $103,000 — aligning with weekly candle closes from December 2024. "This is a buying opportunity, not a bearish signal," he added.
-
Ethereum: Support lies at the 50-week SMA near $2,700. The ETH/BTC pair is crucial — Ethereum must avoid underperforming BTC to preserve its uptrend. "We don't want Ethereum to drop faster than Bitcoin," the analyst noted.
Bacon prefers large-cap altcoins over speculative plays.
He specifically pointed to BNB as undervalued, citing regulatory clarity and strategic partnerships like Binance x World Liberty as long-term positives. "BNB is still massively undervalued compared to Bitcoin," he said.
He projects a 40–60% move in Bitcoin once consolidation resolves, targeting $140,000 to $150,000 by year-end.
What’s Next: Bacon expects August market uncertainty to resolve by September as Trump’s tariff implementation and improved Fed rate cut odds create short-term volatility before a Q4 rally.
Read Next:
-
‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share.
-
If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
This article Here's When You'll Know If A Bitcoin, Ethereum Rally In Q4 Is Coming originally appeared on Benzinga.com
5 months ago
English (US) ·
Indonesian (ID) ·