Pantera Capital Predicts Cryptocurrencies Have Hit Bottom, Awaiting "Massive Rally"

"So we believe that in the next few weeks, cryptocurrencies will decouple from traditional markets and start trading on their own again," Krug said at the time, adding that he expected cryptocurrencies to "rise rapidly.

The $46,000 is a key level for additional gains.

It's worth noting that Pantera is not the only company seeing the crypto market rise at current price levels.

According to Joe DiPasquale, CEO of cryptocurrency hedge firm BitBull Capital, the current consolidation pattern in Bitcoin above the $46,000 mark is "critical" for the bullishness to continue towards the $50,000 level, which is a huge milestone for Bitcoin's price. huge milestone for Bitcoin's price.

"While we did see $48,000 rejected, as long as BTC stays above $46,000, the bulls can be optimistic about another move higher." If we lose these levels in the coming week, we could test the $40,000 low again," DiPasquale warned in an emailed statement.

Money flowing into the Canadian bitcoin ETF has reached an all-time high.

Another indicator of how investors are preparing for a possible crypto market boom is the amount of inflows into bitcoin - backed exchange traded funds (ETFs).