Although Bitcoin (BTC) is hesitating around $70,000, it is a positive sign that the bulls are not leaving room for the bears. Acheron Trading CEO Laurent Benayoun believes the current bull cycle could peak between $120,000 and $180,000, driven by factors such as Bitcoin ETFs, the upcoming Bitcoin halving, and possible interest rate cuts.

Bitwise CIO Matthew Hougan also wrote a note to investment professionals telling them to "keep calm and think long term." Hougan believes that if global asset managers allocated 1% of their portfolios to Bitcoin, it could lead to an inflow of around $1 trillion.

While there are many bullish catalysts for Bitcoin to continue its rally in Q2 2024, trading firm QCP Capital noted that the current move is showing signs of fatigue and bulls may struggle to sustain the uptrend.

So, can Bitcoin and altcoins correct in the near term, or will their rally continue? Let's find out by examining the charts of the top 10 cryptocurrencies.