Bitcoin’s price surged above $123,500 with altcoins beginning to recover their earlier losses. Notable among these are Altcoins Avalanche (AVAX) and Dogecoin (DOGE), which have shown swift rebounds in their market values. This article delves into the predictions for Bitcoin , AVAX, and DOGE, exploring potential future price targets and the current market outlook.
Bitcoin and Avalanche (AVAX)
Bitcoin recently reached a daily peak following the release of the latest Federal Reserve minutes. These minutes generally favored cryptocurrencies, and should the delayed employment figures not dampen sentiment, an even stronger bullish atmosphere is anticipated. Expectations for rate cuts by the month’s end are almost certain. Furthermore, the staunch opposition from two Fed members, including Miran, supports a dovish stance.
The $120,400 level has emerged as a solid support point, and continued closings above $122,400 are seen as positive. Despite recent chaos, ETF investors poured $875 million in, combining with previous week’s starts to surpass $2 billion. Should Bitcoin alone see weekly inflows exceeding $5 billion, it would be remarkable.
Examining the mood surrounding Ethereum ETF inflows, which exceeded $420 million, reveals a favorable outlook for altcoins if Ethereum can maintain itself above $4,500 despite still being under $4,700.
For AVAX, the outlook is turning positive once again as it rises sharply from its lows. The $29 mark remains a critical threshold, with a subsequent test of $31.5 on the horizon. If Bitcoin maintains its strength, AVAX might finally seize the opportunity it’s been waiting for and target $50 for the first time in 2025. Despite various positive developments, the price failed to break the $36 mark this year.
Dogecoin (DOGE)
Dogecoin is reclaiming the crucial $0.255 mark required for a rally. At the time of writing, it was above this level, and a departure from previous unsuccessful attempts is anticipated. With numerous resistance tests, there is hope that the general market sentiment will not result in a loss of the $0.28 threshold.
If DOGE can maintain this trajectory, it could establish a new local peak between $0.3 and $0.42. As the dominant meme coin, it continues to react swiftly to upward movements, and an announcement regarding ETF approval is expected soon.