Famous cryptocurrency analyst Michael van de Poppe, the largest cryptocurrency Bitcoin $62,039He stated that (BTC) could reach new record levels next month.
Key Support Levels and October Expectations
Van de Poppe stated in a statement on social media platform X that Bitcoin could increase by more than 19 percent from its current value in October. The analyst emphasized that if Bitcoin maintains the $ 58,500 level as support, the upward trend could continue, and said:
Yep, here we go. Bitcoin is back above $60k after a minor correction. If it stays above $58k, we will see a new high in October.
The Impact of Fed Rate Cuts
The analyst assessed that the Fed’s expected 50 basis point interest rate cut on Wednesday could boost Bitcoin in the short term. Van de Poppe stated that a possible interest rate cut could take Bitcoin to $65,000 to $68,000, and said, “Bitcoin seems to want to break upwards. All eyes are on the Fed today. They will probably cut interest rates by 25-50 basis points to start. If that happens, I think Bitcoin will rise to $65,000 to $68,000.” In fact, the Fed lowered interest rates by 50 basis points yesterday.
Ethereum’s Status Against Bitcoin
Van de Poppe, Ethereum 
$2,433He stated that in order for (ETH) to rise against Bitcoin, it needs to turn an important resistance level into support. The analyst said that the 0.04-0.041 level is critical and if this level is exceeded, Ethereum will be in a better position:
The question is when will Ethereum move higher? I don’t know what the trigger will be. However, 0.04-0.041 is a zone to break. If that zone is broken, we will be in good territory. For now, not so good.
The analyst’s comments are closely followed by investors along with the general movement in the cryptocurrency market. In particular, it is a matter of curiosity whether Bitcoin will be able to maintain its critical support levels and how exactly the Fed’s interest rate decision will be reflected in the market.
Recent developments have drawn investors’ attention to the performance of cryptocurrencies and possible price movements. Experts emphasize that macroeconomic factors and technical analysis should be evaluated together.
Bitcoin’s potential to reach new highs in October is generating excitement among market participants. Michael van de Poppe’s predictions draw attention to critical levels and central bank policies. Given the volatile nature of the cryptocurrency market, it is important to monitor such developments closely.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
