Week Ahead: Bitcoin inches closer to $50,000, altcoins likely to explode

This week’s outlook is relatively stable, without any major events that could influence the markets. Bitcoin price is hovering around $48,000, with many users anticipating a retest of the $50,000 psychological level soon. Some, however, believe that the BTC could slide lower.

BTC/USDT 1-week chart

Read more: Bitcoin Weekly Forecast: BTC targets $52,000, will New Moon trigger a pullback first?

Is Biden a Bitcoin maximalist?

The United States acting president, Joe Biden, posted an image of himself with glowing red eyes on X (formerly Twitter), on Monday. This move from Biden has left investors confused. While some have interpreted the image as a comment on the Superbowl being rigged, the Crypto Twitter community thought it was to do with Bitcoin. 

Bitcoin supporters started this trend of using glowing eyes as their profile picture back in 2020. MicroStrategy CEO Michael Saylor still has a similar profile on X. Some analysts on the social media platform speculated if this will mark the cycle top for Bitcoin price. 

It is still unclear if Biden’s image is in support of Bitcoin or Superbowl-related.

Events and narratives this week

February 13

• Core Inflation & CPI at 13:30 GMT
• AVAX Durango upgrade on Fuji testnet, PYTH DAO Constitution vote

February 15

•  ApeChain L2 vote

The AI narrative due to Nvidia earnings is still in play: The tokens in question include Bitsensor (TAO) and Worldcoin (WLD), who are leading the AI pack. Other AI-related crypto tokens include Fetch.ai (FET), Render (RNDR), Arkham (ARKM), SingularityNET (AGIX), Ocean Protocol (OCEAN), iExec RLC (RLC) and so on.

Read more:

AI coins Render, Akash Network, Fetch.ai rally on opening of world AI Cannes Festival

Worldcoin price eyes 20% rally  in anticipation of AI giant Nvidia’s earnings

After the recent developments surrounding the Dencun upgrade, Ethereum and ETH-related tokens are likely to rally as well: Arbitrum (ARB), Optimism (OP), LidoDAO (LDO), Sei (SEI), Sui (SUI), Mantle (MNT), Chainlink (LINK), Polygon (MATIC) and so on.

Read more:

ERC-404 – Ethereum’s new experimental token standard and ETH implications

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets primed, await directional bias from BTC

Token unlocks this week

• SAND - $96.82 million
• APE - $22.31 million
• ROSE - $20.22 million

Read more: APT, CYBER, SAND, APE tokens to experience unlock waves next week