The cryptocurrency market presents optimistic forecasts for Bitcoin and altcoins. Analysts believe Bitcoin could reach $120,000 if support holds at $90,000.
Analysis of Bitcoin's Current Situation
On-chain data from CryptoQuant indicates that Bitcoin is currently in a strong accumulation phase, with structural support building around $89,000. If this level is maintained, the next market top could push Bitcoin into six-figure territory.
Forecasts for Altcoins
Michaël van de Poppe highlighted a record-setting bullish divergence on the TOTAL3/BTC chart, which tracks the market cap of all altcoins excluding Bitcoin and Ethereum. He emphasized: 'The longest bullish divergence since the existence of altcoins is being formed — and ready to break to the upside.'
Prospects for the Cryptocurrency Market
Together, these insights hint at a potent one-two punch: Bitcoin leading the charge with a strong rally, and altcoins poised to follow with outsized gains — marking a potentially explosive phase in the crypto cycle.
Thus, the current situation in the cryptocurrency market may mark a turning point, with Bitcoin heading toward new records and altcoins ready for active growth.
