Altcoins Poised to Outperform Bitcoin as Bearish Reversal Signal Emerges

Crypto strategist Michaël van de Poppe has expressed his belief that altcoins are on the verge of outperforming Bitcoin (BTC) after years of lagging behind. Van de Poppe, who has a significant following on the social media platform X, bases his prediction on the Bitcoin Dominance (BTC.D) chart, which tracks the proportion of the total crypto market cap that belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are outperforming Bitcoin, and according to Van de Poppe, the current chart is flashing a bearish reversal signal on the weekly chart, suggesting that altcoins are poised to shine.
Van de Poppe's analysis suggests that the period of altcoin underperformance against Bitcoin is nearing its end. He notes that there is a strong bearish divergence on the Bitcoin dominance chart, implying an imminent reversal in favor of altcoins. This shift could mark the end of the bear market for altcoins, which have been underperforming Bitcoin for an extended period.
Looking at Bitcoin, Van de Poppe anticipates a slight correction before the cryptocurrency continues its rally to fresh record-high levels. He expects Bitcoin to retest a key psychological area as support before rallying to between $120,000 and $130,000. At the time of writing, Bitcoin is valued at $109,112.
Regarding Ethereum (ETH), Van de Poppe suggests that a correction toward the $2,000 price level would present a solid opportunity for long-term investors. He believes that if Ethereum drops beneath $2,400, it would create a tremendous opportunity for investors to position themselves in the market. Ethereum recently rallied from $1,800 to $2,700 in a few days, and Van de Poppe considers a 10-20% correction to be a normal market movement that could provide an excellent entry point for investors. At the time of writing, Ethereum is valued at $2,663.
Van de Poppe's analysis highlights the potential for altcoins to outpace Bitcoin in the near future, marking a significant shift in the cryptocurrency market. His predictions are based on the current performance of Bitcoin and Ethereum, as well as the bearish reversal signal on the BTC.D chart. As the market continues to evolve, investors are closely monitoring the developments in the altcoin space, hoping to capitalize on the potential opportunities that lie ahead.
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