Despite closing the week below $70,000, Bitcoin is poised to reach new heights, according to analysts. Markus Thielen, CEO of 10x Research, predicts an imminent all-time high, driven by a global central bank easing cycle and weakening US growth, employment, and consumer spending.

Thielen's analysis suggests that a $13 billion inflow would propel Bitcoin to $83,000, with a break above the $71,600 trend line triggering further upward momentum. While last week's $4.8 billion inflow only resulted in a 3.1% price increase, Thielen remains optimistic about reaching new highs. Charles Edwards, founder of Capriole Fund, notes that long-term sales are hindering the price rise, but Bitcoin needs to surpass $71,500 to gain upward momentum.

Currently trading at $69,420, Bitcoin finds support in the Asian session, with potential price drops to $67,500 support levels. Ethereum, however, faces a more challenging outlook, with Thielen expressing fundamental skepticism and expecting the ETF process to disappoint demand. Crypto markets remain range-bound, accumulating following the Bitcoin halving event.

In conclusion, analysts predict a new all-time high for Bitcoin, driven by favorable market conditions and weakening US fundamentals. With inflows and trend lines aligning, Bitcoin is poised for a significant upswing, while Ethereum faces challenges in the near term. As the market continues to evolve, Bitcoin's potential reach for new heights may shape the broader crypto landscape.