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Is Bitcoin Headed for $200K? Altcoins Ready for a Massive Lift

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  • Bitcoin’s upward momentum is intact, with $120,000 within reach and support now between $80,000–$90,000.
  • Altcoins like Ethereum, XRP, and Cardano are following Bitcoin’s lead, experiencing significant price gains.
  • Santana forecasts a powerful altcoin rally ahead, with BTC possibly surging past $200,000 in the near future.

Bitcoin’s weekly chart remains positive, with experts expecting the price to rise to $120,000.In recent X post, Alan Santana explained that the price of Bitcoin ended the previous week with a long lower shadow indicating continuity of the upward movement.  This week’s candle is green which indicates that the cryptocurrency is still likely to continue with the upward trend and possibly breaking new records.

Bitcoin has already gone past previous milestones and $120,000 is considered achievable at this point. Other support has subbed up and is now ranged from $80,000 to $90,000, which gives a good base for further appreciation. According to the current predictions, as long as BTC is above the $100,000 mark all the other cryptocurrencies are expected to follow the positive trend.

Bitcoin Drives Altcoin Gains

The strength of Bitcoin is already being seen across the other cryptocurrencies, as altcoins are seeing significant gains. Some of the altcoins including Ethereum, XRP, and Cardano are experiencing tremendous price appreciation. As BTC continues to climb, the altcoin market is also expected to climb, with many tokens expected to rise several levels higher. For instance, Compound that spiked from $40 to $120 is predicted to rise even after some retracements.

Another example of the altcoins rising and holding higher levels is XRP which recently spiked from $0.50 to $2.50. Other important altcoins, including CARDANO, DOGE and ETHEREUM, have also shifted to higher price zones, and it is therefore unlikely that they would return to previous lows.

A majority of the altcoins will surge in the coming months, with many expected to rise two to three tiers. Experts expect this wave to be one of the most powerful since the bull market of 2021, which means that the whole crypto market may be entering the new phase of growth.

Bitcoin Eyes $200,000 Surge

Nonetheless, the market outlook appears to be bullish with one exception. Some of the confidence may be eroded if BTC is to close below $97,260 on a weekly basis. If the BTC continues with this trend, the next resistance level is $122,521 and there are predictions that the “Trump Pump” may push Bitcoin to $200,000 soon. As of writing, BTC is trading at $99,296, down by 0.20% over the past day.

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Source: TradingView

The cryptocurrency market is now moving to the next phase; therefore, according to the analysts, the investors should buy the rumor, the facts, and the news. The future of finance is emerging and cryptocurrency is the vanguard of the new digital finance frontier.

Bitcoin’s Surge Sets Stage For 2025 Altcoin Bull Market: Report

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  • Bitcoin’s strong support levels near $70K hint at a 2025 altcoin bull market as crypto interest continues rising.
  • Market momentum shifts as Bitcoin stabilizes, drawing attention to altcoins and potential for diversification.
  • Consolidation in Bitcoin’s price could lead to increased altcoin activity, setting up a promising 2025 outlook.

Bitcoin’s latest price surge is getting the attention of the entire cryptocurrency market, with experts believing that this trend may lead to a major altcoin bull market in 2025. In a recent X post, Alan Santana noted that the recent momentum of BTC, where the previous resistance level has been turned into a support level, indicates that the market is set to turn positive and may soon be reflected in the altcoins.

Bitcoin’s Strong Support Levels

As per the analysis, when Bitcoin was hovering between $70,000 to $74,000, there were questions regarding the possibility of rejections and how the market would behave if a rebound happened. The new support levels for Bitcoin remain strong at around $70,000 with other support at nearly $69,000 and $64,000 which is a positive for the cryptocurrency.

Earlier, there were fears that Bitcoin might be rejected at these levels, which would have had Negative Impacts on the whole crypto market including the altcoins. However, the fact that Bitcoin has held well at these levels has enhanced the confidence in the general market stability. If BTC’s price forms a pattern of consolidation or stagnation, it will prompt more active investors to look for other digital assets to invest and diversify their portfolios.

The strategies to use in the coming bull run expected in 2025 are different, but most experts suggest that an investor should be both careful and aggressive. Patience will be a key factor in determining when to get into and out of markets and earn the most profit. At the time of writing, BTC is at $87,384, which is 1.98% down over the last 24 hours.

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Source: TradingView

Altcoins Poised for Growth

With the current BTC display of strength and sustained sentiment, many believe that there will be a favorable trickle down into the altcoins. This environment may thus present a perfect opportunity for investors interested in reaping the gains made in the growing cryptocurrency markets. With 2025 right ahead of us, the opportunity for the altcoin market to grow has many in the industry waiting and preparing as events take their course.

Although Bitcoin is staging a strong comeback and has built a good support level, the overall altcoin market could be ready to follow suit. Industry insiders are acting as if investors should brace for a bull market and the following could be a year of phenomenal growth for altcoins and other cryptocurrencies.

Altcoins Poised for Potential Q4 Recovery Amid Market Downturn

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Many altcoins have since pulled back around 60-70% from their highs of March with most struggling to hold onto their gains. The bearish change has elicited a lot of concern among holders of altcoins since the market seems to be stagnant from rebounding in the near future. According to Captain Faibik the market could stagnate for the next few weeks with an anticipation of rebound starting in mid September.

As for the outlook to the fourth quarter, there is also some optimism on the potential for altcoins to bounce back to March’s high. This outlook gives a slight reprieve to investors who have been experiencing an era of low volatility and falling prices. This feeling can be attributed by most of the traders in the crypto market considering waiting for the market to shift to the more volatile situation.

Bullish Cross Could Signal Altcoins Rebound

Another technical factor that could help to maintain a bulls’ stance on altcoins is the Altcoin/TOTAL2 monthly chart that is on the verge of giving a bullish cross. This event usually marks the start of an upward movement and serves as a light at the end of a tunnel for those who are expecting a change for the better in the market.

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Even though we are currently in a bear market situation, there could very much be a bull cross for the Altcoin/TOTAL2 which will give a boost to the cryptocurrency. A closer watch on this should be of interest to traders and investors wishing to catch higher ground for altcoins in the new cycle. Since the market seems slow in the short term, the anticipation of a rebound and retest of the highs is now set for mid September and the Q4.

The market value of altcoins is much lower than it was in March, indicating that altcoin has entered a bear market. Although there is some room for optimism in the coming months and especially in Q4. While the market is still in a holding pattern, the expected bullish cross on the Altcoin/TOTAL2 chart may be the key to triggering a new wave of altcoin prices.

Altcoin Market Surges to $672 Billion, Analysts Predict $3 Trillion Rally Ahead

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The altcoin marke­t is currently seeing a re­markable rise, which has revived optimism and excite­ment among traders and inve­stors. As of June 3, 2024, the­ total market capitalization of altcoins is nearly $671.8 billion, after dropping in re­cent years. Top crypto analysts underscore this growth, predicting a bright future for alternative­ cryptocurrencies.

Renowne­d crypto analyst Yoddha indicated that the altcoin market has be­en on an upward trend since e­arly 2024, breaking free from a prolonge­d downtrend that plagued 2022 and 2023. This resurge­nce is marked by a serie­s of higher highs (HH) and higher lows (HL), classic indicators of a sustained bullish tre­nd.

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Altcoin Market Surges to $672 Billion, Analysts Predict $3 Trillion Rally Ahead 7

Yoddha’s analysis points to a critical shift that occurred around mid-2023 when the marke­t successfully broke above the­ neckline of a previously be­arish pattern. This breakout was a pivotal moment, transforming the­ market’s trajectory from a bearish slump to a bullish uptre­nd.

In addition, Yoddha underscore­s the significance of adhering to marke­t structure for profitable trading. He confide­ntly predicts a new high on the horizon, sugge­sting that the bullish momentum is far from over. His chart proje­cts a target area betwe­en $2.5 trillion and $3 trillion for the altcoin market cap, re­flecting a strong belief in the­ potential for significant market expansion in the­ near future.

Analysts Predict Major Altcoin Rally Ahead

Echoing Yoddha’s optimism, another promine­nt crypto analyst known as Moustache suggests that the altcoin marke­t is on the verge of a significant rally. He­ draws parallels betwee­n the current Ethere­um/Bitcoin (ETH/BTC) weekly chart and market be­havior from 2015 to 2018, a period marked by dramatic price incre­ases following phases of accumulation and re-accumulation.

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Altcoin Market Surges to $672 Billion, Analysts Predict $3 Trillion Rally Ahead 8

Currently, the­ market is in a similar re-accumulation phase, ide­ntified within a falling wedge patte­rn. This technical formation, characterized by conve­rging lower highs and lower lows, typically prece­des a breakout. Additionally, the Re­lative Strength Index (RSI) is showing a bullish dive­rgence, often indicating incre­ased buying pressure and a pote­ntial market reversal.

Former Bloombe­rg analyst Jamie Coutts has also made bullish predictions about altcoins. According to Coutts, the­ general market is ste­ering towards a massive breakout against Bitcoin (BTC), with a ke­y altcoin season indicator about to flash. He explains that a historic signal of an alt se­ason is when both the smart contract platform (SCP) sector rise­s and the alt season index is in an uptre­nd. Coutts highlights that the SCP indicator needs to rise­ simultaneously with the alt-season inde­x to confirm the altcoin season.

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Altcoin Market Surges to $672 Billion, Analysts Predict $3 Trillion Rally Ahead 9

Coutts has identifie­d Solana (SOL), Near Protocol (NEAR), and Toncoin (TON) as the best pe­rformers for a full-blown altcoin season. His picks are base­d on their individual RSI leve­ls, which are currently the highe­st. As of this writing, Solana (SOL) trades at $165, Near Protocol (NEAR) at $7.32, and Toncoin (TON) at $6.58.

The altcoin marke­t appears to be on a promising upward trajectory, drive­n by positive market trends and bullish pre­dictions from top analysts. As the market continues to e­xpand, traders and investors remain optimistic about the­ future, gathering expe­ctations of reaching new heights in the­ coming months.

Related Readings | Ethereum on the Verge of a Breakout: Analysts Predict 3-4x Increase

Altcoin Market Cap Signals Potential Breakout Amid Historical Performance: Analyst’s Optimistic Prediction

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Altcoins’ market cap signals a potential breakout in historical performance. In a tweet, MikybullCrypto, a well-known crypto analyst, stated that the altcoin market cap is “perfectly following the previous Alts season step” and that this is the “last shake-off before it rips explosively upward coupled with Bitcoin dominance downward trend.

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Altcoin Market Cap Signals Potential Breakout Amid Historical Performance: Analyst's Optimistic Prediction 12

The chart suggests that the altcoin market cap is following a similar pattern to what was observed in late 2020, just before a significant breakout in altcoin prices. At that time, the market cap also experienced a period of consolidation followed by a sharp decline. This was followed by a strong upward trend that coincided with a decline in Bitcoin dominance.

If history repeats itself, then the current decline in the altcoin market cap could be setting the stage for another major rally. However, it is important to note that past performance is not necessarily indicative of future results. The cryptocurrency market is highly volatile and unpredictable, and there is no guarantee that altcoins will experience another explosive rally.

Despite the uncertainty, MikybullCrypto’s analysis suggests that there is reason for optimism among crypto investors. The analyst’s chart suggests that the altcoin market cap is following a bullish pattern and that a breakout could be imminent. However, investors should always do their own research before making any investment decisions.

Altcoin Surge Amid Market Resemblance to 2020

A pseudonymous crypto analyst named el_crypto_prof is also bullish on altcoins, believing that the current market conditions are similar to those seen in September 2020. In a tweet, el_crypto_prof stated that investors have a choice to make: capitulate or buy into altcoins before a potential parabolic curve.

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Altcoin Market Cap Signals Potential Breakout Amid Historical Performance: Analyst's Optimistic Prediction 13

The analyst points to a chart of the total cryptocurrency market capitalization, which appears to show a similar pattern to the one seen in late 2020. In September 2020, there was a significant drop in the total market cap, followed by a strong rally. He believes that a similar upward trend could follow the recent downturn in the market.

The chart provided by the analyst shows the total cryptocurrency market capitalization from 2017 to 2024. It is labeled with major events, such as the 2018 bear market and the 2021 bull market. The chart suggests that the total market capitalization is currently around $3 trillion, which is similar to the level it was in September 2020.

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Altcoins Surging: Potential for Another Historic Rally as EMA50 Trend Signals Bullish Momentum

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The cryptocurrency market is witnessing an increase­ in altcoin activity, with many altcoins are­ experiencing significant price­ rises. This upward trend had sparked spe­culation about a potential repeat of the­ historic rally witnessed in 2021, whe­n altcoin valuations soared to record highs.

A recent analysis from crypto analyst Doctor Profit has garnered attention, sugge­sting an imminent surge for altcoins. The crux of his analysis hinge­s on the 50-day Exponential Moving Average­ (EMA50), an indicator that historically signifies whether altcoins are­ navigating a bullish or bearish phase.

The analyst observe­s that the 2021 bull run lasted 47 wee­ks before expe­riencing a significant downturn, causing altcoin prices to dip under the­ 50-day exponential moving average­. However, the market swiftly recove­red, crossing back above this indicator in June 2021, subse­quently reaching new re­cord highs.

The curre­nt market scenario shows a comparable­ trajectory, wherein altcoins are following the e­xponential moving average ove­r a span of twenty-four weeks, lacking a substantial corre­ction, suggesting that the market could be gearing up for even higher targets in the coming months.

The EMA50 is a wide­ly utilized technical indicator that prioritizes re­cent price moveme­nts and promptly re­sponding to market shifts. When an altcoin’s price trade­s above this indicator, bulls tend to take control. The­ EMA50’s sensitivity to short-term fluctuations makes it a preferred tool for crypto trade­rs operating in volatile conditions.

Altcoins Market Trends

Although most altcoins faced de­clines amid the overall downward tre­nd, Litecoin (LTC) stood out, showing steadine­ss amidst market volatility. Litecoin shows stability, backed by its classification as a commodity by the­ Commodity Futures Trading Commission (CFTC) in its legal action against the crypto exchange­ Kucoin.

According to a rece­nt analysis by Into The Block, a substantial 75% of Litecoin investors are­ currently profiting from their investme­nts. This is due to the re­gulatory agency classifying Litecoin as a commodity. Holding a significant majority in profitable positions highlights the potential of this cryptocurre­ncy.

While the Ethere­um continued its sideway traje­ctory for two consecutive days, sustaining above $3,300 subse­quent to its recent plunge­. Although this may suggest uncertainty be­tween buyers and se­llers, its Q1 performance­ shows consistent expansion across multiple­ sectors, even as discussions continue­ regarding its commodity classification.

Related Reading | Solana’s Potential Surge: Expert Analysis Highlights Optimal Buying Range