Known for accurate predictions, a cryptocurrency analyst recently discussed the current outlook for Bitcoin and Ethereum. The analyst highlighted crucial levels for both cryptocurrencies and advised caution ahead of impending US inflation data.

Bitcoin Analysis

The analyst suggested that Bitcoin could experience a significant surge upon surpassing $71,700. He stressed the importance of vigilance before the US inflation data release. The shared price chart indicated Bitcoin's consolidation between $67,789 support and $71,679 resistance levels. In case of a major correction, $60,748 is identified as a critical support zone. Presently, Bitcoin is trading at $69,425 with a market capitalization of $1.36 trillion.

Ethereum Analysis

Regarding Ethereum, the analyst foresees a formation of a higher low and anticipates SEC approval of spot ETF applications. In the ETH/BTC chart, a support level at 0.05-0.051 is crucial, signaling a potential rise if maintained. These key levels are pivotal for monitoring Ethereum's performance in the upcoming period.