The odds of a strong crypto bull run remain elevated as Bitcoin nears a significant breakout and global risks ease. The Bitcoin price remains at $108,000 and is showing signs of breaking out in the coming weeks. Such a move is likely to boost Block3, an emerging player in the cryptocurrency industry.
Why Crypto Bull Run is About to Happen
There are a few reasons why a crypto bull run will happen in the coming weeks. First, the fear and greed index has shifted to the greed zone, with top gauges such as stock price strength, stock price breadth, and put and call options rising to the extreme greed area.
Other top gauges, such as safe-haven demand, junk bond demand, and market momentum, have also entered the greed area. In most cases, risky assets like stocks and the crypto market do well when investors are greedy.
Second, the crypto bull run could occur because the stock market has taken the lead, with the Nasdaq 100 Index and S&P 500 Index reaching their all-time highs this month.
Third, there are signs that the risks that happened in the first half of the year have ended. Trump is expected to sign trade deals with other countries later this year, potentially ending his trade war.
The Federal Reserve is expected to begin cutting interest rates in September, while companies are likely to report strong financial results this year.
Geopolitical risks could also ease. The Iran and Israel war has already ended, while the United States is still negotiating for the end of the war with Ukraine.
Most importantly, Bitcoin has formed a cup-and-handle pattern that could trigger more gains in the near term. This pattern features a rounded bottom and consolidation, often leading to further gains over time. A breakout will likely lead to more gains, potentially to $150,000 and above.
Bitcoin price chart | Source: TradingView
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Crypto Market Rally to Boost Block3
The upcoming crypto market rally is expected to boost Block3, a forthcoming crypto project that launches its token sale on Tuesday, July 1.
Block3 is a project at the intersection of the blockchain, artificial intelligence, and gaming industries. It will be an AI engine that will help developers build games within a few minutes.
These games will be created by just entering prompts, just as users do with ChatGPT, Grok, and Claude. After entering these prompts, the AI engine will work behind the scenes and develop games that can be played on consoles, smartphones, and other devices.
Block3 is therefore disrupting industries with a total addressable market in the trillions of dollars. Such a move will likely help it to become a highly successful token sale of the year.
Recent data show that some cryptocurrency projects have raised millions of dollars through their token sales. For example, Bitcoin Pepe has already raised $16.3 million from investors, while Metacade has become a multi-million-dollar company after its highly successful sales. Learn more about Block3 here.
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