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Bitcoin Surge Could Spark Altcoin Rally, Analyst Predicts

Crypto trader Michaël van de Poppe believes Bitcoin is gearing up for a fresh price peak, possibly as soon as next month, and this could trigger a significant altcoin rally.

Van de Poppe pointed to Bitcoin’s continued upward momentum, suggesting that although there may be a brief period of sideways movement, the overall trend remains positive. He identified $108,900 as the final major resistance that needs to be overcome for Bitcoin to achieve a new all-time high. According to the analyst, Bitcoin has already absorbed nearby liquidity, which typically signals the start of stronger momentum. If this pattern continues, he expects Bitcoin to break through this resistance within the next few weeks, potentially setting a new record by July.

Van de Poppe also noted the potential impact this Bitcoin breakout could have on the broader crypto market. He believes many altcoins are primed for a rally, especially if Bitcoin’s rise leads to widespread short squeezes. These short squeezes, caused by traders who have bet against the market, could accelerate price increases across altcoins, quickly reversing their previous losses.

Currently, Bitcoin is trading around $107,600, just below the key resistance level. While price movement has slowed in the last 24 hours, the overall market setup suggests that the coming weeks could be crucial for both Bitcoin and the entire cryptocurrency market.

Simonas Brazionis

Blockchain Expert

Simonas is a crypto and blockchain expert with 6 years of experience. Passionate about the industry he educates others on blockchain technology, and continuously expands his knowledge. He has helped many newcomers understand crypto, navigate investments, and stay informed about trends like DeFi and NFTs.