Rally

Bitcoin

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Rekt

Amid the bullish sentiment around the crypto landscape, the Altcoin overall market cap has displayed positive strength as many investors and traders are throwing capital into several <a href="https://www.newsbtc.com/press-releases/top-3-altcoins-that-will-ride-the-2024-bull-wave-wif-scorpion-casino-and-pepe-fork-show-bullish-signs/" target="_blank" rel="noopener ">altcoins</a> ahead of the bull cycle.&nbsp; 
<h2 id="altcoin-market-to-rally-toward-425-billion">Altcoin Market To Rally Toward $425 Billion</h2> 
Since Bitcoin has surged to a new record high, many cryptocurrency analysts anticipate a surge in the altcoin market cap. Rekt Capital, a cryptocurrency expert and trader, has <a href="https://x.com/rektcapital/status/1768221258905170100?s=20" target="_blank" rel="noopener nofollow">shared</a> a positive prediction regarding the altcoins market cap with the community on X. 
The expert analysis delves into the current state of the market and its potential to surge higher in the coming months. His projections came in light of the altcoin season index showing advancement, which suggests that its season is almost here. 
According to the analyst, the market has been “redirected into the blue-circled testing area,” which was caused by rejection from the “red-circled circle zone.” However, the market has rebounded since then, indicating an increased <a href="https://www.newsbtc.com/news/ethereum/ethereum-altcoins-witnessing-whale-interest/" target="_blank" rel="noopener ">interest</a> from market investors. 
<img loading="lazy" decoding="async" class="wp-image-598051 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=860&amp;resize=860%2C607" alt="Altcoin" width="860" height="607" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=1794 1794w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=860&amp;resize=860%2C607 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=120 120w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Rekt-Capital-Altcoin-Chart.jpg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
Furthermore, Rekt Capital noted that the market has surpassed the “$315 billion red line of resistance.” As a result, the red line resistance level has now been changed to a “new support level.” Due to this, the crypto analyst anticipates a surge to the “light blue circle” at the $425 billion threshold in the upcoming months. 
The post read: 
<blockquote>
 The red-circled area rejected the Altcoin Market back into the blue-circled retesting zone. Since then, the Altcoin Market Cap has recovered, broken beyond the red $315bn resistance, and turned recently into new support. Next is the light blue circle, over time.
</blockquote> 
However, Rekt Capital also asserted in another recent <a href="https://x.com/rektcapital/status/1768574715172446469?s=20" target="_blank" rel="noopener nofollow">post</a> that the “$315 billion mark is still being retested by alts market cap new support.” It has been unable to move past it despite today’s double-digit declines on several altcoins. 
Even though the market is still retesting the aforementioned level, Rekt Capital is confident that it will “revisit the $425 billion resistance” soon. He anticipates the market revisiting the level before the <a href="https://www.newsbtc.com/news/company/5-best-altcoins-to-not-miss-before-bitcoin-halving/" target="_blank" rel="noopener ">Bitcoin Halving</a> event, expected to take place in April. 
<h2 id="alts-gains-are-sustable-and-likely-to-crash">Alts Gains Are Sustable And Likely To Crash</h2> 
Chief Executive Officer (CEO) of Bitcoin technology firm JAN3, Samson Mow, has also <a href="https://x.com/Excellion/status/1768032607948997009?s=20" target="_blank" rel="noopener nofollow">shared</a> his insights regarding the altcoin market. Despite anticipating a rise in the altcoin market, Mow highlighted that he expects alts to “crash in the upcoming weeks.”&nbsp; 
According to Mow, alts have been monitoring the “increase in Bitcoin” after launching BTC Spot Exchange-Traded Funds (ETFs). However, altcoins do not possess “the $500 million to $1 billion” daily inflows seen with Bitcoin. 
Consequently, this should be the “major sign” that their <a href="https://www.newsbtc.com/news/company/stack-these-top-3-cheap-altcoins-for-potential-explosive-returns/" target="_blank" rel="noopener ">gains</a> “can not” be maintained. “MSTR has a $30 billion market cap, <a href="https://www.newsbtc.com/news/solana/solana-open-interest-plunges-20-what-price/" target="_blank" rel="noopener ">Solana</a> is $73 billion. That is absurd. A correction is overdue,” he added. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/6tX3gvPe/" alt="Altcoin" width="2273" height="1351">

Key Trend Driving Altcoin Market Toward $425 Billion: Analyst

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