Altcoin Market Is Entering an Uptrend After Bottoming Out, Crypto Analyst Predicts

In a new strategy session, crypto trader Michaël van de Poppe tells his 751700 followers on the social media platform X that the price action of the OTHERS chart

Cryptocurrency trader Michaël van de Poppe is sharing his insights on the altcoin market, predicting an uptrend after a period of consolidation.

In a recent strategy session shared with his 751,700 followers on the social media platform X, van de Poppe analyzes the price action of the OTHERS chart, which is used to gauge the strength of the altcoin market by tracking the market capitalization of all crypto assets excluding the 10 largest coins and stablecoins.

According to the trader, the chart suggests that the altcoin market may have bottomed out.

“OTHERS has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we’re likely just making a higher low here. Onwards and upwards.”

Van de Poppe also provides his analysis on layer-1 blockchain Aptos (APT), predicting a surge of over 41% from its current price.

“Mentioned this one earlier, but APT is showing a nice higher timeframe bounce from the support zone. Expecting this one to continue to move up towards $17 and $20, with the latter being a primary target.”

At the time of writing, APT is valued at $14.18, exhibiting a 3% rise over the last 24 hours.

Finally, the trader comments on Bitcoin (BTC), highlighting the importance of $98,000 as a support level for the continuation of an uptrend.

“Bitcoin seems to be ready to continue moving upwards. It needs to hold above $98,000 and then we’re good to go.”

Based on his chart, van de Poppe suggests that Bitcoin could potentially reach $106,000.

After a brief dip into the $99,000 territory yesterday, Bitcoin has shown a recovery. At the time of writing, BTC is trading at $101,170.