The BTC market has been stable recently, but the activity of altcoins has shown clear signs of recovery.
From a low of $960 billion in market capitalization to the current $1.025 trillion, the altcoin market has seen an increase of approximately 3%, once again surpassing the $1 trillion mark.
This recovery is closely tied to the synchronized performance of Bitcoin, which gained around 2.7% last week and traded between $62,000 and $63,000.
Analysis shows that Bitcoin has recently formed a "pin candle" pattern during its price increase, which usually indicates a possible bullish reversal in the market. Bullish power drove prices higher on both the weekly and monthly closes, showing strong upward momentum.
For the week ahead, the altcoin market is expected to continue its strong performance, with gains expected to range between 20% and 40%. There is significant activity in well-known altcoins such as Solana, and the charts of Ethereum and Bitcoin also show signs of potential trend reversals and recovery. Furthermore, the overall sentiment in the cryptocurrency market has turned for the better, supporting this prediction.
Despite the optimism for altcoins, expectations for Bitcoin are more conservative, believing that its price will gradually increase rather than immediately surge to $70,000.
