Crypto Expert Reveals Top 3 Trades To Take Now

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.

“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

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 level, […], a reclamation of that level could send it to $5.”

#2 Ethereum Is Ready To Surprise

A significant portion of Deutscher’s analysis was dedicated to Ethereum and the speculative impacts of the upcoming spot Ether ETFs in the United States. He discussed how Ethereum’s potential underperformance relative to Bitcoin could set up a lucrative buying opportunity ahead of the ETH ETF’s launch.

Deutscher quoted market sentiment from various tweets, indicating a general consensus that Ethereum might underperform in ETF inflows, which he believes is an undervalued viewpoint.

“Given the fact that Bitcoin is significantly upticking, the ETH inflows could surprise. And the ETH chart really hasn’t done as much as you think it would, considering they’re on the verge of a major, major catalyst ” he explained, suggesting that the market might be underestimating Ethereum’s appeal to institutional investors.

#3 Crypto Trend: Real-World Assets

Third, Deutscher explored the concept of real-world asset (RWA) staking as an emerging investment opportunity within the Ethereum ecosystem. He cited Ondo Finance as a leader in this area, already showing strong performance and potential for further gains.

“It’s actually consolidating into another bull flag here on the 1-hourly and the 4-hourly after breaking above that $1.33 level. The price action here is absolutely absolutely amazing. It’s a thing of beauty,” Deutscher noted.

ONDO/USDT

He also highlighted projects like Mantra and Pendle as other key players benefiting from the shift toward RWA staking. “Mantra recently announced their staking as well. Pendle is obviously a platform to enable you to earn yield. This is a clear beneficiary. These tokens, in my opinion have been the RWA leaders, […]. All of these can perform well.”

At press time, ETH traded at $3,799.

Ethereum price

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

Latest posts

post-thumbnail
Korea Blockchain Week Announces New Headline Speakers and Welcomes Sui as Official Partner
Asia’s most impactful crypto industry event, the Korea Blockchain Week, has announced Sui as the o...
READ MORE
post-thumbnail
Polkadot’s Ajuna Network Halves Block Time with Async Backing
Polkadot-based gaming protocol Ajuna Network has introduced its asynchronous backing engine. This up...
READ MORE
post-thumbnail
Gary Gensler and SEC Relent: Ripple Faces Reduced $102 Million Penalty in XRP Case
Ripple’s ongoing legal battle with the SEC sees a significant reduction in penalties. The SEC’s ...
READ MORE
post-thumbnail
BitMEX’s Arthur Hayes Projects Aptos to Eclipse Solana in Blockchain Leadership
Arthur Hayes predicts that Layer 1 blockchain Aptos will surpass Solana within two to three years. H...
READ MORE
post-thumbnail
Game-Changing Altcoins That Could Transform You Into A Crypto Millionaire in 2024
A few altcoins are gaining traction as game-changers in the dynamic and quickly changing world of cr...
READ MORE
post-thumbnail
XRP Price Poised for Major Rally: Key Indicators and Whale Moves
XRP nears critical support line, suggesting a significant potential rally. Technical indicators sign...
READ MORE
post-thumbnail
Beyond XRP Institutional Adoption: Unveiling Potential Beneficiaries Like TON, TRX, and APORK
Ripple completed its acquisition of Standard Custody & Trust Company, and as a result, this coul...
READ MORE
post-thumbnail
XRP Surges Amid 80M Whale Moves: What It Means for Future Prices
Whale investors moved nearly 80 million XRP, stirring market speculation. Ripple collaborates with t...
READ MORE
post-thumbnail
Technium Strengthens Global Footprint with New Initiatives in Cryptocurrency Adoption
June 14, 2024 – Technium International Limited is proud to announce a series of innovative initiat...
READ MORE
post-thumbnail
Polygon and Ternoa Collaborate: Introducing zkEVM+ for Digital Asset Security
Ternoa launches zkEVM+ for enhanced digital asset security on Ethereum. Collaboration with Polygon C...
READ MORE
Read more posts