Crypto Influencer Takes Long View of Bitcoin's Current Bull Run, Citing 52K Resistance 45J Support

Scott Melker, celebrity investor and host of the crypto podcast The Wolf of All Street, said, "The price of BTC is moving on fading grayscale GBTC selling pressure and anticipation of the April half. We may see some resistance at $5.20-5.30 and if it breaks we can expect more upside. On the other hand, if $50,000 is broken, the next support is at $45,000. Even this could be retraced and the price could fall below $40,000. In that case, it could signal that the year-long bull run has stalled," the analyst said. Meanwhile, Daniel Cheung, CEO of Pangea Fund Management, a crypto-focused investment firm, believes that the BTC bull market will last longer than expected. "This is the first time that a crypto bull market has coincided with the start of the Fed's quantitative easing cycle. In the absence of significant macro headwinds, the 'buy the dip' mentality is likely to persist in the crypto markets for the foreseeable future," he said. "One of the factors driving the bull market is RWA (real-world asset) tokenization, which is creating new wealth in the crypto market, unlike previous bull markets."