Crypto analyst Michaël van de Poppe has pointed to a notable bullish divergence on the TOTAL3/BTC chart — a metric that tracks the performance of all altcoins excluding Bitcoin and Ethereum against Bitcoin itself.
According to van de Poppe, this setup could signal a strong rebound for the altcoin market in the near term.
In a recent post on X, van de Poppe noted that while Bitcoin faces its own technical headwinds, the broader altcoin space may be gearing up for a rally. His analysis suggests that TOTAL3, which captures the total market cap of smaller altcoins, is forming a bullish divergence even as the chart remains in a clear downtrend.
Van de Poppe believes that the initial upside potential points to a return to the levels last seen in April and May. That would represent a potential 2x move for many altcoins from current valuations, depending on market conditions and sentiment shifts.
“On the flipside,” he wrote, “a bullish divergence on the TOTAL3/BTC chart [is] implying that the altcoin markets are going to go up in the coming period.”
The accompanying chart shows a declining price trend, but one that is being met with decreasing momentum to the downside — classic conditions for a bullish reversal if confirmed by volume and price breakout.
While van de Poppe’s analysis sparks optimism for altcoin traders, broader market conditions remain fragile. Bitcoin’s recent sideways performance and macroeconomic uncertainty may still weigh on risk appetite. However, if the divergence plays out, altcoins could outperform Bitcoin in the coming weeks.
For now, traders are eyeing the 0.45 BTC ratio zone as a possible target for TOTAL3/BTC, with increased attention on whether volume can support the breakout.
