- CryptoCapo sees capitulation risk if Bitcoin falls below $108K.
- Ali Martinez highlights $118K breakout as vital for strength.
- Pomp and Lummis maintain optimism, expecting renewed Bitcoin growth.
Bitcoin remains under close watch as analysts highlight critical price levels that could determine its next move. Crypto analyst CryptoCapo cautioned that bearish confirmations are still needed, but a break below $108,000 could mark a local top.
He explained that if this support fails, Bitcoin could retreat sharply to the $60,000–$70,000 range. Such a decline would likely trigger widespread capitulation across altcoins, he noted.
Losses in these markets could range from 50% to 80%. CryptoCapo urged caution, stating that the market remains fragile and highly reactive to sudden moves.
Martinez Highlights Crucial Resistance
Analyst Ali Martinez pointed to MVRV momentum data, suggesting Bitcoin is at a decisive point. He stated that the asset must clear $118,000 to restore a bullish outlook.
Without this breakout, Bitcoin risks extended consolidation or further downward pressure. Martinez emphasized that momentum signals currently suggest weakness.
He advised traders to monitor the $118,000 level closely. A successful move above it would confirm renewed strength and boost confidence, he added.
Pomp and Lummis Share Optimism
Meanwhile, Anthony “Pomp” Pompliano, in an interview with CNBC, expressed a more positive outlook as Q3 closes and Q4 begins. He argued that Bitcoin looks oversold at present levels.
Pomp recalled that September and October have historically delivered strength, especially in post-halving periods. He also mentioned that treasury firms are preparing to deploy capital into the market.
According to him, retail traders are reentering after the summer slowdown. These factors, he said, could fuel fresh momentum and bring Bitcoin “alive” again.
Meanwhile, U.S. Senator Cynthia Lummis voiced a strong long-term prediction for Bitcoin. She reaffirmed her confidence in the cryptocurrency’s role as a hedge and store of value.
Lummis, a long-time supporter of digital assets, highlighted her continued backing of pro-crypto legislation. She stated that Bitcoin is set for a dramatic increase soon.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
