An influential cryptocurrency analyst suggests that Bitcoin (BTC) is on the brink of a significant breakout, despite experiencing a drop to the $65,000 range on Wednesday. Michaël van de Poppe, a crypto trader with a large following on the social media platform X, informs his 732,700 followers that Bitcoin’s correction may have come to an end, and a return to the all-time high of approximately $74,000 could be just a few weeks away. He attributes this optimism to the start of the macroeconomic season, marked by the release of Purchasing Managers’ Index (PMI) data. Van de Poppe expects to see Bitcoin test its all-time high in the next two to four weeks.

At the time of writing, Bitcoin is trading at $67,802, reflecting a 2.5% increase over the past 24 hours. Looking ahead, the analyst expresses bullish sentiments towards NEAR Protocol (NEAR), a competitor to Ethereum (ETH), suggesting that the token may soon experience a substantial gain of 223%. He believes that the markets are preparing for a significant upward movement, citing NEAR as an example. The token has recently retested its previous consolidation area and is gradually moving upward. Van de Poppe identifies the next target in the rally for NEAR as being within the $10 to $15 range.

NEAR is currently trading at $4.64, showing a 2.1% increase over the past 24 hours. In addition to his positive outlook on NEAR, the analyst also predicts a potential surge for ETH against Bitcoin (ETH/BTC) if the US dollar index (DXY) starts to trend downward. Van de Poppe emphasizes that the reversal of the DXY and Yields will play a crucial role in driving demand within the ETH ecosystem. He suggests that if ETH manages to break through the 0.04 BTC level, it will likely see significant growth.

At present, ETH/BTC is trading at 0.03731 BTC ($2,527), indicating a decrease of 2.66% over the past 24 hours. In conclusion, the analyst encourages investors to stay updated on the latest developments in the cryptocurrency market by subscribing to email alerts and following reputable sources. He also advises conducting thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this information is sourced, clarifies that it does not provide investment advice and does not endorse the buying or selling of any cryptocurrencies or digital assets.