- September is expected to be a critical month for the cryptocurrency market, potentially involving significant changes.
- Crypto analyst Michaël van de Poppe forecasts a bullish trend ahead for Bitcoin and altcoins.
- Van de Poppe highlights a burgeoning breakout in the altcoin market, supported by data from TOTAL3/BTC charts.
Anticipate market trends in the crypto world as experts predict a bullish reversal in the coming weeks.
Bitcoin and Altcoins Set for Bullish September
Michaël van de Poppe, a well-regarded crypto strategist, believes the long correction period in the digital asset market is nearing completion. Reflecting on historical data, van de Poppe suggests that September has traditionally been a favorable month for the cryptocurrency sector, offering promising signs that Bitcoin and altcoins might be primed for growth.
Altcoin Market Shows Signs of Revival
According to van de Poppe, altcoins are beginning to show promising signals in their Bitcoin trading pairs. He points out that the final bouts of market downturn are nearing an end, signaling an opportune period ahead for Bitcoin and the broader crypto market. Observations from TOTAL3/BTC—a metric tracking the market capitalization of altcoins excluding Bitcoin, Ethereum, and stablecoins—reveal significant bullish divergence, indicating a likely near-term breakout.
Optimism Surrounding Decentralized Finance (DeFi)
Moreover, van de Poppe maintains a supportive outlook towards the DeFi sector, identifying it as a potential strong performer for the remainder of 2024. He underscores the high Total Value Locked (TVL) ratios observed on Ethereum, which when considered alongside market capitalization, signal positive momentum. AAVE, for instance, has performed robustly in recent weeks, poised for a breakout if it surges past the $135 mark.
Conclusion
In summary, van de Poppe’s analysis suggests that the crypto market is on the cusp of a bullish phase, with September marking the start of potential upward momentum for Bitcoin and altcoins. Investors and market participants should carefully monitor developments in the altcoin and DeFi spaces, as these areas show substantial promise for growth.
