Analyst Says 'Bitcoin and Altcoins Are Getting Ready to Upset the Bears', Reveals His Expectations!

Bitcoin remains stable around $97,000 over the past 24 hours.

Meanwhile, altcoins exhibit fluctuations. The SEC has recently approved Grayscale's ETF 19b-4 applications for XRP and Dogecoin (DOGE), leading to price increases.

XRP has surged 12%, while DOGE has jumped 5% in the past day. An analyst suggests that these developments may herald the onset of an "altcoin season."

Valentin Fournier, a BRN analyst, observes bullish momentum for both Bitcoin and altcoins, bolstered by favorable regulatory signals and easing trade tensions.

"The SEC's inclusion of XRP and Dogecoin in its ETF review process, alongside Solana and Litecoin, is a significant step. The acceptance of ETF applications for XRP and DOGE has the potential to enhance institutional exposure to these altcoins, thereby injecting liquidity."

Moreover, Fournier points out that if DOGE and XRP ETFs are authorized, they could pave the way for an altcoin season later this year.

"Cryptos are demonstrating bullish momentum due to positive regulatory signals and easing trade tensions."

Lastly, the analyst examines US CPI and PPI data, which exceeded expectations, and notes that Bitcoin's price has remained steady despite this news.

"Bitcoin's resilience to high inflation and increasing regulatory clarity imply that this accumulation phase may culminate in a robust rally for Bitcoin in the coming weeks. We maintain a bullish stance and advise maintaining significant exposure to digital assets by diversifying between BTC and ETH based on market capitalization."

*Please note that this information does not constitute investment advice.