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- Bitcoin’s little rally pumps market sentiment leading altcoins to bullish indicators.
- Many altcoins show strong signs of parabolic pumps including LUNA.
- LUNA price could see a pump of 600% very soon.
Bitcoin shows its ever-present strength and resilience as the pioneer crypto asset reclaims the $97,000 target. The price of BTC continues to fluctuate but its latest rally brought a surge of bullish positive sentiment to the crypto market and community. In turn, the Crypto Fear & Greed Index went up to a score of 70 marking a ‘Greed’ sentiment.
Bitcoin Retakes $97,000 Spurring Altcoins
Expectations for Bitcoin to hit much higher new ATHs this New Year are greater than ever and with the latest rally, this expectation has come back more bullish than ever. Analysts expect the price of BTC to first reclaim its previous ATH of $108,268.45 before moving further up to hit higher targets. Once that price is retaken, Bitcoin could go on to hit much higher targets from $115,000 to $235,000.
Similar expectations lie in the altcoin market as well. Based on historical data, every Q1 following a Bitcoin Halving year has always seen the peak of altseason. Now, with the same timeline having appeared, analysts are more bullish than ever on promising altcoins that could pump parabolically. One such altcoin is LUNA.
Could LUNA See a 600% Price Pump?
Let’s have a look at $LUNA 2020-2021 (just as an example)
— CryptoBullet (@CryptoBullet1) January 14, 2025
We had this giant Cup&Handle with a Standard Target of $3.26
The price did break out and reached the Standard Target but due to this paradigm shift (#BTC.D meltdown that happens only once every cycle) $LUNA exceeded the… https://t.co/m1n5KZlBiq pic.twitter.com/KFRi4wbVMk
As we can see from the post above, the analyst compares LUNA’s 2020-2021 movement following a giant cup and handle formation and the $3.26 price target. A similar price movement could be taking place now. Can LUNA have another 600% price pump and exceed its previous cycle’s target?