Crypto Updates

Crypto Expert Reveals Top 3 Trades To Take Now

BNB/USDT, 1-week chart

In a video update, Miles Deutscher, a widely followed crypto expert, provided his 502,800 followers on X with an in-depth analysis of the current market conditions. This update came in response to what Deutscher described as “massive ramifications” for certain altcoins following a notable Bitcoin price surge.

Deutscher began his discussion by pointing out a significant rally in Bitcoin’s price, which soared from $68,500 to over $71,000. This movement aligns with his observation of substantial inflows into Bitcoin spot ETFs, which he highlighted as nearly reaching $900 million in a single day. This figure is distributed across various funds, with Fidelity, BlackRock and ARK contributing the largest shares.

“This is the highest inflow that Bitcoin has gotten since the major breakout in March,” Deutscher stated. He connected these inflows to a broader bullish sentiment in the market, suggesting that they indicate a robust institutional interest that had not been seen since Bitcoin’s previous highs around $74,000.

Strategic Altcoin Play #1: BNB Ecosystem

Shifting the focus to the altcoin market, Deutscher honed in on Binance Coin (BNB) and its associated tokens. He elaborated on BNB’s performance, noting its breakout to new all-time highs and its defiance of typical market gravity. He advised potential investors to consider entering positions after a definitive weekly close.

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“When a coin is in price discovery, it’s often very hard to fade that coin. If you’re interested in a long here, wait for a close above on the weekly if you’re a higher timeframe trader, and then you have very clear invalidation for this next leg to the upside,” Deutscher said.

BNB/USDT, 1-week chart | Source: YouTube @ Miles Deutscher

In the BNB ecosystem, Deutscher pointed out specific tokens poised for growth, especially FLOKI and Cake. FLOKI, which gained the analyst’s nod as “one of the leading meme coins on the Binance Smart Chain,” has shown similar price actions to another meme coin, Pepe. Observing these patterns, Deutscher predicted a possible 20% upside potential for Floki following its breakout.

Cake, known for its role as the largest DEX on the Binance Smart Chain, has started to show promise by reclaiming key support levels. “Cake is an interesting play. Because Cake, on the weekly chart, has been pretty unimpressive, but it’s now finally starting to show signs of wanting to reclaim that major support…

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