- The crypto world has surged with optimism following Donald Trump’s election, driven by hopes for improved regulatory clarity and innovation.
- Aussie analyst Jason Pizzino highlighted broader macroeconomic trends, noting that major indices like the S&P 500 are hitting all-time highs.
- Pizzino noted that Bitcoin has entered an accumulation phase, which has both followed and preceded historic all-time highs, potentially signalling further bullish momentum in the coming weeks.
- He believes that Solana, which has lagged behind Bitcoin since November, may be poised to reach US $300 if it can break through its resistance level at US $260.
The crypto market has exploded on the back of Donald Trump’s election as the next US President.
The true catalyst isn’t just the Republican victory though – it’s the evolving digital asset landscape that many hope will now see improved regulatory clarity.
Anticipation across the community is strong, with several coins reaching all-time highs over the past few weeks of trading.
However, at this point, it’s mostly speculation, as the world is yet to see how a Trump presidency might actually police the crypto industry.
Based on this, paired with a slight market slowdown over the past week, many are asking the question “Where to from here?”
Aussie analyst Jason Pizzino has tried to answer this in his latest market update, available on YouTube.
Related: Bitcoin Flash Crash to $90k Wipes Out Over $1 Billion in Leveraged Positions
“Winter’s Curse” As Asset Prices Rise Despite Predictions of a Recession
Pizzino starts his analysis by turning to broader macroeconomic trends, which can help assess the overall state of the economy.
He notes that it isn’t just crypto revelling in a bull market, with major indices like the S&P 500, the NASDAQ and the Dow Jones all hitting all-time highs.
In the video, Pizzino calls this market cycle “Winter’s Curse”, referring to global expectations of an economic downturn that are countered by rising asset prices.
Despite the bullish momentum, Pizzino does warn investors to expect volatility and a possible correction over the coming months, especially as a lot of new traders tend to get spooked over short-term drops.
Bitcoin in Predictable Accumulation Phase: Bullish Momentum Building
Looking specifically at Bitcoin, Pizzino identified a specific technical indicator that’s already occurred multiple times this year, and one he believes will end in a breakout for the coin.
Since the middle of November, BTC has more or less been trading sideways – in what’s known as an accumulation phase.
Historically, these cycles have predictably followed each new Bitcoin all-time high. But interestingly, they’ve also preceded Bitcoin breakouts.
This exact pattern happens every single time when we break out into new all-time highs…you have the weekly chart and the swing indicator thrown on with each of these accumulation periods you get a pretty significant breakout.
Jason PizzinoPizzino also refers to the declining dominance of USD stablecoins, in particular USDT. This implies that investors are less inclined to sit on the sidelines and are putting their cash into altcoins and BTC.
Solana Faces Resistance at All-Time-High, Potential Breakout Awaits
The Aussie analyst also touches on Solana, which has endured a relatively subdued performance – down 10% over the past week.
Pizzino notes that Solana is yet to reach the same heights of Bitcoin in the current cycle:
Solana has put in its highest weekly close, however, that close has not come above the previous all-time high…
Jason PizzinoIn the video, Jason Pizzino believes that if Solana manages to close above its previous all-time high, the coin may finally break out and give the market enough momentum to potentially breach US $300 (AU $465).
However, he stresses that it may “just take a few weeks” to get there, especially as many in the market continue to take profits before the Christmas period.
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