The crypto market is currently experiencing a significant uptrend, with both Bitcoin and altcoins enjoying substantial gains. Crypto analyst Capo of Crypto has shared a positive outlook, suggesting that there is still room for more significant moves to the upside for these digital assets. According to Capo, the “best is yet to come” for Bitcoin and altcoins.
Capo highlighted that Bitcoin has reclaimed the $60,000 range as support, indicating a strong bullish momentum in the market. He also mentioned that altcoins appear to have found their local bottom, setting the stage for potential massive rallies in the near future. With Bitcoin now back above $65,000, many analysts believe that it is only a matter of time before the flagship cryptocurrency reclaims the $70,000 range.
Other market analysts like Rekt Capital share a similar sentiment with Capo, suggesting that a successful retest of the $65,000 resistance level could catapult Bitcoin back above $70,000. This price level is considered crucial for initiating a new bullish phase in the market. Analysts believe that once Bitcoin surpasses $70,000, the real bull run will begin, leading to even higher price targets in the near future.
In addition to Bitcoin, analysts like Mkybull Crypto are also predicting a massive altcoin season ahead. Mkybull Crypto compared the current price action in altcoins to the explosive rally seen in 2017, hinting at a potential surge in altcoin prices. Despite some doubts due to recent market fluctuations, analysts remain confident in the resilience of altcoins and expect a significant uptrend in the coming weeks.
Capo expressed particular bullishness towards altcoins, highlighting the upcoming launch of Spot Ethereum ETFs as a potential catalyst for further price appreciation. The introduction of these ETFs is expected to bring more institutional interest into the market, driving the prices of altcoins higher. Overall, market sentiment remains positive, with analysts expecting further upside for both Bitcoin and altcoins in the near future.
