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Nansen Predicts Breakout Phase for Altcoin Market

Leading analysts are forecasting an optimistic outlook for the altcoin market in the coming period. Aurelie Barthere, Head of Research at Nansen, the leading blockchain data analytics company, has projected that June will be the pivotal month when altcoins hit local bottoms and begin recovering.

However, according to Barthere, the altcoin recovery will be contingent on #Bitcoin's trajectory. The world's largest cryptocurrency needs to break out of its current trading range and record a strong price surge before the uptrend spills over to altcoins.

Nansen's analysis is based on the observation that the altcoin market has been heavily impacted by the recent halving event and is currently in a declining phase. However, once Bitcoin makes a breakthrough and gains upside momentum, investors will rotate back into altcoins, fueling their recovery rally.

Nansen's forecast underscores the importance of Bitcoin in leading the broader cryptocurrency market trends. Investors are anticipating a strong recovery for both Bitcoin and altcoins in the near future, after an extended period of struggle.#btc