Crypto Market Poised for New Highs as TOTAL Nears Breakout

Widely followed trader Michaël van de Poppe believes that new record highs are bound to happen for the crypto market. The analyst tells his followers on the social media platform X that he’s keeping an eye on the TOTAL chart, which tracks the market cap of all digital assets excluding stablecoins. According to Van de Poppe, TOTAL is gearing up for a massive breakout after printing a series of higher lows since the start of 2024. He believes that a constant move upwards for the entire crypto market capitalization is imminent, and it is only a matter of time until the market breaks upwards to a new all-time high.

At the time of writing, TOTAL is trading at $3.323 trillion, down about 11% from its all-time high of $3.738 trillion, which it hit in December of 2024. Turning to Bitcoin, Van de Poppe thinks that new all-time highs are in sight for BTC. He classifies the current phase as the build-up phase for Bitcoin and assumes that significant upward movement will start in the coming weeks. At the time of writing, Bitcoin is trading at $109,100.

As for Ethereum, Van de Poppe believes that ETH could spark a huge upside burst if it takes out resistance at $2,800. He notes that the moment ETH breaks out, it will provide a big move. Given that the low at $1,700 has been hit and sentiment is at the bottom, he assumes that ETH will break upwards, resulting in the start of the bull market. At the time of writing, ETH is worth $2,570.

The last altcoin on the trader’s radar is the artificial intelligence (AI)-focused crypto project Bittensor (TAO). Van de Poppe thinks TAO needs to breach its resistance at around $350 to trigger a surge to his price target. He believes that TAO is on the edge of breaking back in the range, which would then fuel a move towards the other side of the range ($470). At the time of writing, TAO is worth $328.