Can Altcoins Ride the Wave as Bitcoin Hits $87K Again?
The post Can Altcoins Ride the Wave as Bitcoin Hits $87K Again? appeared on BitcoinEthereumNews.com.
Bitcoin trades at $87,450 with a modest daily loss but a strong weekly performance. Analysts debate whether altcoins will follow Bitcoin’s lead or continue to lag. Fear and Greed Index rises from Extreme Fear at 27 to a Fear level of 34 this month. Bitcoin has once again approached the $87,500 level with a solid daily gain of 3.3% at press time. As BTC nears its next resistance, market participants are increasingly asking whether altcoins will finally catch up after extended periods of underperformance. While Bitcoin showed a modest recovery during this period, the performance of altcoins has been mixed. Ethereum has shown strength, gaining 3.4% over the past 24 hours. However, other top 10 cryptocurrencies have failed to show similar upward movements. Analyst Highlights Key Technical Breakout Technical analyst The Wolf Of All Streets has highlighted an important point for Bitcoin. He mentioned that it’s “breaking through descending resistance from the all-time high.” The analyst emphasized that Bitcoin needs to rise above $88,804 to break the series of lower highs and lower lows. Related: Crypto Market Edges Higher as Bitcoin Crosses $87K; Cardano Eyes Breakout Some analysts remain decisively bullish on altcoin prospects. Michaël van de Poppe predicts a potential altcoin revival independent of crypto-specific catalysts. “It’s all macrodriven, and I think that you are actually able to buy altcoins at current levels, which are able to do a 100x in a year,” Poppe mentioned. Bullish Technical Patterns Support Altcoins Analyst Moustache points to technical patterns supporting a potential altcoin resurgence. Referencing the TOTAL3 chart, which tracks the total market capitalization excluding Bitcoin and Ethereum, the analyst identified what appears to be “a perfect retest (inverse head and shoulder pattern).” #Altcoins – TOTAL3 Imagine you have just seen a perfect retest (inverse head and shoulder pattern). This is one…
Filed under: News - @ April 21, 2025 5:22 pm