Is the Next Crypto Bull Run Already Here?

The last crypto bull run – during this year's first quarter – was marked by consistent spot Bitcoin ETF inflows. The ETFs even acted as risk proxies

Bitcoin price dropped nearly 5% after peaking at $65,000 last week, trading as low as $62,000 on Tuesday.

But the behavior of top crypto traders gives the impression that the bull market is already here. For example, over 65% of top traders on Binance opened long BTC positions after today’s price decline.

The bulls still have their work cut out for them. For example, popular crypto analyst Nebraskangooner (@nebraskangooner) believes that BTC must continue to hold above $60,375 or risk a larger crash to $46,000.

Similarly, Michael van de Poppe on MN Trading is stressing the importance of the Bitcoin price holding above the $61,000 support.

However, there is a reason why institutional investors are buying the dips, resulting in strong spot Bitcoin ETF inflows. BlackRock alone saw an influx of $224 million yesterday on August 26th.

Experts believe that the Bitcoin price is poised to reclaim the $70,000 level, followed by a bullish continuation to new all-time highs. After all, the Federal Reserve is set to cut interest rates aggressively for the rest of 2024 & 2025.

This would likely lead to an influx of fresh capital to Bitcoin and the rest of the crypto market.

For instance, the Head Macro Economist at Swissblock Henrik Zeiberg believes that the Bitcoin price could peak at $120k in the coming months. This is despite his regular warnings that the US economy is set to enter a recession.

Best Crypto To Buy Now This could be the perfect opportunity for sidelined investors to gear up for the upcoming crypto bull run.

Amongst the large-cap altcoins, some smart money investors appear to be rating XRP higher than others. Whales have scooped up over 50 million XRP since Monday.

However, experts believe that meme coins will continue to lead the way. For instance, popular crypto analyst Ali highlights that the top Base meme coin Brett is forming an ascending triangle, which could spark a major bull rally.

I'm buying $BRETT right now at $0.084. The #BRETT 4-hour chart hints at an ascending triangle, with potential targets at $0.105 and $0.152. I'm leaving my stop loss at $0.083. pic.twitter.com/V9Pkye8IBF

After all, there is a reason why Binance Futures recently onboarded Brett to its platform.

However, smart money investors are already a step ahead. Base meme coins show a high degree of correlation. Considering that Brett can only offer limited returns due to its large market cap, they are buying a new low-cap meme coin, Base Dawgz (DAWGZ).

DAWGZ is currently in the final stage of its presale – which will end on August 28th – and could launch in the midst of a bull run.

Owing to its low-cap status, multi-chain nature and strong presale performance, analysts are rating it as one of the best crypto to buy now that could offer up to 20x returns after its launch.

Another new meme coin PlayDoge (PLAY) has also impressed investors, having raised over $6.3 million in its ICO. PLAY will go live on August 29th, offering an excellent opportunity for investors to get in early beforehand during the presale.

PlayDoge is a high-utility meme coin. It is multi-chain, has its own play-to-earn game as well as staking rewards.

Unsurprisingly, it has drawn comparisons with Floki, with some calling it the next 100x meme coin.