Strike CEO Jack Mallers offered a renewed ray of hope for Bitcoin, despite the ongoing market crash and bearish signals. According to him, the cryptocurrency signals trouble in the US banking system, acting as an early warning of a looming liquidity crisis. He wrote, “It smells trouble.”
Notably, the Strike CEO views this banking pressure as proof that BTC is accurately anticipating an upcoming liquidity crunch. He adds that the Federal Reserve’s inevitable response is expected to drive the coin’s value up. This bullish price prediction amid negative signals and bearish conditions sparks increased enthusiasm within the community.
BTC Signals Impending Liquidity Crisis: Jack Mallers
In his recent X post, Strike CEO Jack Mallers shed light on the prevailing situation of the pioneer cryptocurrency, adding, “Bitcoin is accurately smelling trouble right now.” He shed light on the growing issues in the US banking sector, where several regional banks are under pressure after the 2023 crisis.
As per Mallers’ statement, BTC is accurately reflecting an impending liquidity crunch. Positing that the US is “going to have to inject some of that sweet, sweet liquidity soon and print a ton of money or else their fiat empire goes kaboom,” he added,
“Bitcoin is the most sensitive to liquidity. It moves first. It’s a truth machine.Yields are puking, spreads blowing out, and banks are stressed. Bitcoin is working. It smells trouble. When they’re forced to print, it’ll move first again, and outperform everything.”
Bitcoin Price Prediction: Will BTC Surge to New ATH?
Currently, the cryptocurrency is valued at $106,670, down by 2.16% in a day, 5.95% in a week, and 8.83% in a month. Although the coin dipped to a severe low $103k earlier today, it recovered slightly, reaching the current level. However, as per expert comments, BTC is currently at a critical point, as its slip below $107 200-Day MA signals further plummet. As noted by analysts like Ted, this price action hints at the asset’s possible drop to $100k and even the $90k-$95k levels.
At the same time, analysts like BitBull suggest that the dip to $103k could represent the maximum pain scenario for BTC at the moment. The analyst noted that the wick created last week might be filled, and a move through the $103,000–$104,000 level could trigger the liquidation of the last remaining bullish positions. Afterward, a reversal could occur, potentially leading to a new all-time high.
Market Expert Alex Wacy highlighted a recurring pattern shown in the BTC chart, where the price has repeatedly bounced off a specific blue trendline before beginning significant rallies. Since March 2023, the chart shows five instances where it touched this line and then surged higher. The most recent data also indicates that the crypto is once again approaching this key support level. Thus, the analyst provides a bullish Bitcoin price prediction, asserting that a rally is imminent.
