Crypto Analysis: BNB is ready to print a new record high, what about Bitcoin? (2/28/25)

Jakarta, Pintu News – A widely-followed crypto analyst and trader recently gave a bullish view on one of the major altcoins amid a correction that has seen Bitcoin (BTC) drop to its lowest level since November. The analyst, who goes by the pseudonym Bluntz, has shared his analysis with over 317,000 followers on social media platform X, regarding the potential upside in the price of BNB, a utility token from the BNB Chain ecosystem.

Bullish Outlook for BNB

According to Bluntz, BNB has not yet reached its peak and still has the potential to rise at least 25% from current levels. This could be the last leg up before it reaches a new record high. Based on the weekly chart used by Bluntz, who often applies the Elliott Wave theory in his technical analysis, BNB appears to be at the end of a five-wave pattern that starts mid-2023.

The Elliott Wave Theory states that the main trend of an asset’s price occurs in a five-wave pattern, while corrections occur in a three-wave pattern. According to the shared chart, BNB could reach a price of around $900 to complete the fifth wave of the major bullish trend. Currently, BNB is trading at $625.

Also Read: Cardano (ADA) Price Prediction by Alex Becker: Upside Potential or Excessive Speculation?

Bitcoin (BTC) Outlook in Uncertainty

Furthermore, Bluntz also provided an update on Bitcoin (BTC), the leading cryptocurrency. According to his analysis, Bitcoin (BTC) could experience a sharp decline if the support level slightly above $86,000 does not hold.

Bluntz suggests that if Bitcoin (BTC) is going to bounce, it should be from the current level of around $89,000, once both sides of the price range have been touched. Otherwise, it would most likely be best not to discuss the possibilities of what happens next. Currently, Bitcoin (BTC) is trading at $88,504, up slightly from its previous three-month lows of around $86,050.

Implications for Investors and Markets

This prediction provides important insights for investors looking for opportunities in the volatile crypto market. BNB’s potential rise shows that not all crypto assets follow the trend of Bitcoin (BTC). This emphasizes the importance of diversification in crypto investments and understanding the specific dynamics affecting different cryptocurrencies.

Moreover, the Bitcoin (BTC) situation underscores the importance of monitoring critical support levels and preparing strategies for various market scenarios. Investors are advised to remain vigilant and update their strategies according to the latest market developments.

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With in-depth analysis and a good understanding of market theory and dynamics, Bluntz provides a perspective that can be invaluable to crypto market participants. Whether it’s the upside opportunity of BNB or the potential downside of Bitcoin (BTC), both scenarios require careful attention and strategy from investors.

Also Read: Bitcoin (BTC) Trend Not Over? CryptoQuant CEO Analyzes!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Daily Hodl. Crypto Analyst Says Top 10 Altcoins Primed for One Final Leg Up to New All-Time High, Updates Outlook on Bitcoin. Accessed on February 28, 2025
• Featured Image: Generated by AI