Renowned crypto influencer Carl Runefelt recently shared his insights with the CoinSpeech team, who have recapped the most crucial aspects of his latest discussion. You can find Carl’s new video below.
Current Market Sentiment
The crypto market has been in a lull, with Bitcoin hovering around $62,700. Carl and his guest Dano confirmed, “Crypto right now is so boring everyone’s so bored.” However, they reiterate the importance of community engagement, encouraging viewers to stay active and participate in live chats.
Bitcoin’s Recent Performance
Bitcoin recently tested the $64,000 level, a critical resistance point. Carl and Dano noted, “We predicted basically the weekend pump,” which saw Bitcoin rally before retreating. This weekend pump was primarily driven by an increase in liquidity and volume, suggesting bullish undertones despite the recent setbacks.
Technical Analysis Insights
Analyzing the technical indicators, Carl mentioned, “We have a little bit of exhaustion on the selling right now.” On a more long-term perspective, the MACD and hourly chart indicate potential upward momentum. He further emphasized, “We could potentially have a green July to push us up.”
Ethereum’s Stand
Ethereum also looks promising, with Carl discussing its regression trend and breakout patterns. The asset has tested levels around $4,000, and he opines, “We could be crushing past $4,100 on Ethereum.” Additionally, the influence of Ethereum ETFs cannot be underestimated, as these financial products are likely to propel its market value even higher.
Institutional Movements
Institutional interest is surging, with Carl stating, “The ETFs are going to scoop up whatever Mt. Gox whatever FUD is going to come in July.” Recent data showcases a $130 million influx into ETFs, indicating strong institutional buying despite the market’s current fear level.
Onboarding New Users
Community growth is essential, as evidenced by Carl’s push for people to subscribe, engage, and participate actively in crypto discussions. New initiatives, like business schools in Lugano focused on teaching Bitcoin usage, are making it easier for newcomers to understand and adopt cryptocurrencies.