TechFlow reports that Michael van de Poppe, founder of MN Capital, said Bitcoin could surge to $110,000 in the next major rally.
Senior trader Peter Brandt warned that despite major events such as the halving and ETF approvals, Bitcoin is still forming lower highs and lower lows.
Van de Poppe linked the recent price volatility to miners' struggles, citing rising operating costs and reduced mining rewards due to the halving. He stated: "The decline in hash rate on July 1 was as severe as during the FTX collapse."
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