In a bid to reinvigorate the crypto bull market following a widespread sell-off, well-known analyst and trader Michaël van de Poppe has identified four potential catalysts for a market rally. Van de Poppe, who has a significant following of 721,400 on social media platform X, suggests that if there is a substantial influx of funds into both spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in the coming weeks, it could trigger a rally in the crypto market. He specifically highlights the importance of ETH turning positive, stating that it would be an ideal trigger for a surge in the markets.

Furthermore, Van de Poppe believes that deteriorating macroeconomic conditions could prompt a surge in gold prices and a weakening of the US dollar, which would in turn drive the value of risk assets like Bitcoin. He explains that continued market unrest, leading to a rise in gold prices and a fall in the dollar and US Treasury yields, would act as a trigger for a market rally.

The analyst also points out that another potential catalyst for a bullish market is if crypto assets manage to reclaim key support levels, particularly ETH against Bitcoin (ETH/BTC). He emphasizes the importance of ETH holding above the 0.044-0.045 BTC level and reversing its trend upwards. At the time of writing, ETH/BTC is trading at 0.0449 BTC ($2,506).

Lastly, Van de Poppe suggests that the announcement of a settlement agreement in the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple could also have a positive impact on the markets. Ripple Labs CEO Brad Garlinghouse has expressed optimism about reaching a resolution soon, although he cannot predict when the judge will rule. The SEC filed a lawsuit against Ripple in late 2020, accusing the company of selling XRP as an unregistered security. While a judge ruled that Ripple’s automated sales of XRP did not constitute security offerings, the judge did agree with the SEC’s claim that Ripple’s direct sales to institutional buyers were securities offerings.

Van de Poppe also highlights that one reason to remain optimistic during the crypto market correction is the potential for digital assets to find support at their high timeframe levels. He suggests that the current capitulation is significant but believes that it is close to the high timeframe support levels indicated by technical analysis, and that it represents the most extreme panic scenario.

As always, it is important for investors to conduct thorough research and due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades should be approached with caution, as any losses incurred are the responsibility of the individual. The Daily Hodl does not provide investment advice or recommendations for buying or selling cryptocurrencies or digital assets.