With the US Fed cutting interest rates after four years, Bitcoin (BTC) price has reached nearly $65k. Today, as BTC is gaining momentum, all eyes are on altcoins. Crypto analysts claim that the long-awaited altcoin bull run is just around the corner.
Ali Martinez, who has been gaining attention with his analysis published on the X platform, has made impressive claims about the altcoin bull trend. Martinez points out that the market value of altcoins other than Bitcoin and Ethereum is approaching $600 billion. The analyst signals a potential breakout.
Crypto Analyst Speaks Out: Is an Altcoin Bull Run Coming?
Ali Martinez shared his views on the TOTAL3 chart (market value of all cryptocurrencies except BTC and ETH). Pointing out that there is money flowing into altcoins, Martinez said:
âAltcoin Market Cap Looks to Surpass $1 Trillion⊠Just a Matter of Time Before Altcoin Season Arrives!â
The bull flag has attracted attention in the chart published by the analyst. In the above pattern, it is seen that the uptrend has begun and the candlestick is approaching the resistance zone. According to Martinez, altcoins are about to break the downtrend as the outflow has ended since April.
Martinez stated that another indicator that will support the altcoin uptrend is Bitcoin dominance. âBTC dominance seems to be peaking,â the analyst said, concluding his remarks with:
âBTC dominance likely to drop to 47%, setting the stage for altcoin season.â
Martinez stated that if a potential breakout occurs and BTC dominance drops, an altcoin bull trend could begin later this year.
According to data from CoinGecko, the cryptocurrency market has reached a market value of $2.317 trillion. While $1.249 trillion of the market value is mentioned in BTC, $318 billion is in ETH.
