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This week has been a rollercoaster ride in the world of cryptocurrencies. From Tom Lee of Fundstrat Global Advisorsdeclaring Ethereum as “vastly undervalued” to financial analyst Beth Kindig predicting Bitcoin’s long-term price target at $2 million, the crypto market has been buzzing with predictions and analyses.
Meanwhile, Japan is eyeing blockchain for real-time settlement of stocks and bonds, indicating a growing interest in the technology. Here’s a quick recap of the top stories.
Ethereum’s Undervalued Potential
According to Fundstrat’s Tom Lee, Ethereum is still “vastly undervalued” despite its recent rally. Lee believes that tokenization, AI agents and institutional adoption could drive the next major leg higher for Ethereum. He sees improving crypto fundamentals while prices were still acting like the market was stuck in a deep crypto winter.
Read the full article here.
Bitcoin’s Explosive Rally
Traders predict that Bitcoin could extend its explosive rally toward $90,000 as the market shifts from low-volatility consolidation to a momentum-driven market. Prominent trader DonAlt noted that bearish catalysts repeatedly failed to push Bitcoin meaningfully lower, indicating seller exhaustion.
Bitcoin’s Long-Term Price Target
Financial analyst Beth Kindig cited an I/O Fund analysis that projected Bitcoin’s long-term price target at $2 million, despite a weak near-term outlook. The analysis found that Bitcoin’s aggregate volume has dropped to its lowest level in two years, indicating a lack of buying interest near the recent low.
Japan’s Blockchain Ambitions
Japan is moving toward developing a blockchain-powered settlement infrastructure for real-time settlement of stock and bond transactions. The Financial Services Agency, the Ministry of Finance, the Bank of Japan and several financial institutions are preparing to kick off a study group to develop a comprehensive strategy by early 2027.
AI: A Threat to Bitcoin?
Economist Peter Schiff believes that AI is a threat to Bitcoin, rather than serving as a positive catalyst for the cryptocurrency. He called out what he saw as attempts by “Bitcoin pumpers” to connect BTC with the AI trade, stating that AI isn’t bullish for Bitcoin; it’s a threat to it.
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