Analyst Michau00ebl Van de Poppe Anticipates Commencement of Altcoin Season – Do We Know When?
Speculation is swirling among analysts about the possibility of altseason, driven by a recent surge in the total market capitalization of altcoins. Leading the charge is Ethereum, which has experienced a significant increase in price, hovering around $3,891. Notably, traders and analysts like Michaël van de Poppe have been closely monitoring altcoins following Ethereum’s impressive 27% gain over the past week.
According to TradingView data, the current market capitalization of altcoins stands at approximately $1.16 trillion, marking a 15% increase over the past two weeks. This surge is approaching the resistance levels observed in mid-March when the market cap reached $1.2 trillion.
In his YouTube video analysis, Michaël van de Poppe examines the recent approval of the Ethereum ETF and its potential impact on altcoins during the current bull market.
The Path to Altseason typically follows a distinct liquidity flow pattern, as observed in historical patterns. It unfolds in several phases before impacting the market.
During the Bitcoin’s Run phase, a thriving bull market drives the growth of Bitcoin, potentially leading to new all-time highs. At the same time, Bitcoin dominance begins to decline, indicating a potential shift towards altcoins.
Next, Ethereum’s Turn phase sees Ethereum emerging as a frontrunner and experiencing impressive gains while Bitcoin corrects. This phase may coincide with a consolidation period for Bitcoin.
In the Large-Cap Altcoins Shine phase, investor attention and capital flow towards established altcoins, resulting in significant price appreciation.
Finally, the Mid/Low-Cap Frenzy stage witnesses explosive growth and heightened volatility in mid and low-cap altcoins with promising growth potential.
Van de Poppe’s analysis suggests that the recent approval of the Ethereum ETF could act as a catalyst for altseason, aligning with historical patterns in the cryptocurrency market. As Ethereum gains momentum and investor confidence grows, it could lead to broader appreciation across the altcoin market.
Van de Poppe also emphasizes the importance of retail confidence, which typically returns when altcoins start moving, especially when Ethereum shows strength. The approval of the Ethereum ETF is seen as a potential catalyst for altcoin season. However, due to the listing process, the full impact may not be immediate and could take months to materialize.
Positive regulatory developments, such as bipartisan support for the Fit21 bill and Trump’s acceptance of crypto donations, have also influenced sentiment. Additionally, the potential classification of Ethereum as a commodity represents another positive regulatory shift.
The altseason may go through a consolidation phase before gaining full momentum. After the ETH ETF, several other altcoins, including XRP, Litecoin, Solana, and more, are in line to try their luck. The market appears bullish in embracing ETFs like never before.
So, are you excited?
Tags: Altcoins