Crypto’s Bull Market: Is It Coming or Just a Mirage? 🐂💰

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Well now, gather ’round, folks! It seems that one Michael van de Poppe, a fellow who dabbles in the curious world of cryptocurrency from the bustling Amsterdam stock exchange, has taken to the digital town square known as X (formerly Twitter, bless its heart) to proclaim that he spies a “great bull market” for crypto just over the horizon. Ain’t that a sight for sore eyes? 🧐

This grand prediction of his is based on some fancy data he’s been poring over, which he claims shows several key metrics that are just itching to take off like a cat on a hot tin roof.

“Signs for great crypto market”

Now, Poppe, in his infinite wisdom, has noted that the Consumer Price Index (CPI)—that trusty old measure of inflation—has come in lower than a snake’s belly in a wagon rut. It’s a mere 0.2% for February, while the so-called experts were all a-flutter expecting a 0.3% rise. Over the past year, the CPI has crept up by 2.8%, which is a tad less than the 3% jump we saw in January 2025. Who knew numbers could be so entertaining? 📉

Great signs.

CPI comes in lower than expected, monthly data is also lower than expected.

All signs start to go green for a great bull market for #Crypto and #Altcoins.

— Michaël van de Poppe (@CryptoMichNL) March 12, 2025

Now, lower CPI readings have a history of making the Fed Reserve think twice about raising rates—this is like a warm hug for Bitcoin and its merry band of altcoins. 🥳

Bitcoin is losing momentum over gold

But hold your horses! Mike McGlone, the senior commodity expert over at Bloomberg Intelligence, has a different tune to sing. He believes that our dear Bitcoin, the poster child of cryptocurrencies, is losing its luster to that shiny yellow metal we call gold. Earlier today, he tweeted that gold ETFs are seeing a flood of cash while Bitcoin ETFs are experiencing a drought. Talk about a role reversal! 🏆

To add to the drama, both Bitcoin and Ethereum, the two biggest fish in the crypto pond, are currently in a nosedive—Bitcoin has plummeted below $80,000, and Ethereum has taken a tumble under $2,000. McGlone thinks that crypto and stock markets are dancing the same waltz, and it ain’t a pretty sight. 💃

He’s got a hunch that both Bitcoin and US stocks got a bit too big for their britches by the end of last year, and now they’re starting to deflate like a sad balloon. He’s labeled them as risk assets, and it seems this decline might just keep on keeping on throughout 2025. Buckle up, folks! 🎢

As of this very moment, Bitcoin is trading at $81,086 after a 3.78% drop, having lost its grip on the $84,110 level. What a rollercoaster ride! 🎠

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2025-03-12 18:57