Bitcoin Price and Ethereum Prediction: Can BTC and ETH Reach New Highs After Breaking Out of Narrow Ranges?

cryptonews.com:

With Bitcoin and Ethereum stuck in narrow ranges for some time, investors are wondering whether the two leading cryptocurrencies can break out and reach new highs. Despite the recent volatility, there are several bullish indicators that suggest BTC and ETH may be gearing up for a significant move. 

Let us examine the major fundamentals of the cryptocurrency market that could be impacting the overall price action.

After two weeks of silence, a prominent cryptocurrency trader who has maintained a bearish stance on Bitcoin throughout its 2023 rally has spoken out. Known by the pseudonym "Capo," the trader withdrew from the markets when Bitcoin dropped to $40,000 in April 2022. 

Since then, he has held on to his belief that the bear market will conclude with BTC hitting a new low of $12,000. Despite acknowledging that Bitcoin's recent price surge is a significant bear market rally, Capo admits to being taken aback by its scale, as he didn't foresee such a move.

Capo believes that the recent Bitcoin rally is a bear market rally, which is being artificially pumped with BUSD and USDC. According to him, this is still the biggest bull trap ever, and bearish analysis is not invalidated yet. Capo expects Bitcoin to hit a fresh low of $12,000. 

While he admits that he didn't see this bounce coming, he congratulates those who were able to take advantage of the situation, especially with some altcoins seeing stronger rallies than expected due to the Al narrative.

Dutch bank, De Nederlandsche Bank (DNB), has imposed a fine of over $3 million on Coinbase, a leading US cryptocurrency exchange. According to the DNB, Coinbase had been operating without registration since November 2020. Though Coinbase adhered to the registration protocols in