Crypto Analyst Highlights Altcoin Market Bottom, Draws Line in the Sand for Bitcoin (BTC)
A closely followed crypto analyst believes that the altcoin market is entering an uptrend after bottoming out.
In a new strategy session, crypto trader Michaël van de Poppe tells his 751,700 followers on the social media platform X that the price action of the OTHERS chart may be printing a bullish pattern on the weekly timeframe.
The OTHERS chart, which is often used to gauge the altcoin market strength, tracks the market capitalization of all crypto assets excluding the 10 largest coins and stablecoins.
“The altcoin market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we’re likely just making a higher low here. Onwards and upwards.”
