
The crypto market is currently flourishing, with Bitcoin and altcoins experiencing notable rallies. Crypto analyst Capo of Crypto has injected further optimism into the market, suggesting that these tokens are poised for even more substantial upward movements.
In a post on X (formerly known as Twitter), Capo of Crypto asserted that “the best is yet to come” for Bitcoin and altcoins. He highlighted that Bitcoin is surging, having reclaimed the $60,000 range as support. Additionally, Capo noted that altcoins appear to have found their local bottom, positioning them well for significant rallies.
Bitcoin has climbed back above $65,000, and it seems only a matter of time before the flagship cryptocurrency reclaims the $70,000 range. Capo had previously indicated that regaining the $65,000 level would serve as the next bullish confirmation for Bitcoin. The analyst also suggested that higher prices are imminent once this level is maintained.
Capo emphasized that the main target for Bitcoin’s rise is the liquidity zone between $74,000 and $76,000. Achieving these price levels would mark a new all-time high (ATH) for Bitcoin. Similarly, crypto analyst Rekt Capital echoed Capo’s sentiment, predicting that a successful retest of the $65,000 resistance level would propel Bitcoin back above $70,000.
Reaching and surpassing the $70,000 mark is believed to be when the real excitement will begin. Analysts like Michael van de Poppe have previously stated that the bull run would persist once Bitcoin breaches this price level. Crypto analyst Crypto Kaleo recently advised market participants to remain patient, emphasizing that the market is still headed “way higher” and suggesting that a little more patience is required before the significant gains materialize.
In addition to Bitcoin’s bullish prospects, a substantial altcoin season appears to be on the horizon. Crypto analyst Mkybull Crypto expressed in a post on X that a huge altcoin season is brewing, drawing parallels to the explosive altcoin rally of 2017. He pointed out that the current price action of altcoins mirrors that period. Mkybull Crypto mentioned that a previous fakeout had led many to believe the altcoin season was over for this cycle, but he suggested that the situation is reminiscent of the post-halving cycle of 2016.
Capo of Crypto revealed that he is most optimistic about altcoins, referencing the impending Spot Ethereum ETFs, which are expected to begin trading this week. Crypto analysts predict that these funds could trigger a massive rally for Ethereum and, by extension, other altcoins. Such a rally could help initiate the altcoin season, with altcoins outperforming Bitcoin.
Bitcoin’s price currently holds strong at $67,000, indicating robust support and further potential for growth. The market’s enthusiasm is palpable, with analysts and investors alike anticipating unprecedented highs in the near future.