Seasoned Bitcoin trader and vocal advocate Fred Krueger on Monday predicted Bitcoin BTC/USD is poised to reclaim its all-time high of $64,800 within the next 60 days — even before the upcoming halving event.
What Happened: Krueger's bullish call comes off the back of strong interest of the "New9" institutional funds investing in Bitcoin. His confidence rests on two key pillars: waning selling pressure and surging institutional accumulation.
Krueger argued that the much-feared GBTC unlock is largely behind us, with its selling pressure diminishing.
On the flip side, the spot ETFs have been on a buying spree, amassing a staggering 175,000 Bitcoin (worth $7.5 billion) in just 18 trading sessions.
Extrapolating this trend over the next 30 to 60 days, Krueger estimated the "New9" could inject a further $4-$6 billion into the market.
This influx, he believes, has the potential to catapult Bitcoin past its ATH before halving, blindsiding most market participants.
Why It Matters: Achieving this feat before the halving, where the block reward for miners gets cut in half, could shatter the "Turtle" model — a bearish prediction of stagnation — and usher in a new era of bullish dominance.
But Krueger isn't shy about the potential turbulence ahead.
"It can be absolutely very violent," he said. "And I expect violence."
This sentiment resonated with James Van Straten, Lead Analyst at Crypto Slate, who tweeted, "Meta did $200B increase in MC. Bitcoin can flip in a moment's notice."
Both acknowledge the inherent volatility, but their words also hint at the explosive potential they see brewing.
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