Analysts suggest a breakout could launch the market toward a $5 trillion altcoin season
Crypto analyst Michaël van de Poppe shared a chart showing that altcoin market capitalization is holding steady above a pivotal resistance zone, which suggests structural strength. He anticipates this strength as the prelude to a big influx of money to push the altcoin market cap into the $3 trillion to $5 trillion range by year-end.
Recently, altcoins have continued gaining traction, and as of mid-July, they are increasingly driving total crypto market growth, with the total crypto cap hovering around $3.83 trillion.
Also in mid-July, the market cap of altcoins reached $1.5 trillion, representing a multi-month high. Analysts suggest a breakout here could launch the market toward a $5 trillion altcoin season.
Not long ago, van de Poppe noted widening discrepancies between fundamentals (like partnerships and on-chain activity) and price, indic…
