Two Master Analysts Explain the Signs: Is an Altcoin Pump Near?

The cryptocurrency market declined in the medium term as the Bitcoin price fell below $64,000. Significant cash outflows in US-based spot Bitcoin ETFs over the past five days have put heavy pressure on the bull trend. However, some top analysts say the time for a new pump is near. Prominent analyst Michaël van de Poppe predicts a major altcoin pump triggered by Ethereum’s market resistance. Additionally, according to Quant Analyst Ki Young Ju, an Ethereum indicator indicates that the altcoin era will start early.

A sign for the altcoin era: I’m bearish on ETH/BTC!

According to popular crypto analyst Michaël van de Poppe, the altcoin industry is on the verge of gaining bullish momentum against Bitcoin after more than two and a half years. The crypto analyst states that the ETH/BTC pair has shown some resistance to the downtrend. As a result, Poppe says that as long as the ETH/BTC parity remains above 0.05, the Ethereum price will increase exponentially against the US dollar in the near term.

cryptokoin.com As you follow from , the altcoin industry has attracted the attention of institutional investors, as evidenced by Solana ETP in Canada. Moreover, Bitcoin dominance is on the verge of a major reversal that will trigger an increased crypto cash rotation in favor of altcoins.

This indicator indicates that the altseason will start early

Ki Young Ju, CEO of blockchain analysis platform CryptoQuant, updated his perspective on altcoins ahead of the potential approval of spot Ethereum ETFs by the US SEC. Young Ju says Ethereum’s Market Value to Realized Value (MVRV) metric is giving a bullish signal. The MVRV indicator, used to evaluate whether a decent crypto asset is undervalued or too expensive, is the ratio of the market value of Ethereum or another crypto asset to its realized price (the value of all ETH at the price at which they were purchased). In this context, the analyst shares the following assessment:

We are entering the early altcoin era. ETH MVRV is rising faster than Bitcoin (BTC) MVRV, indicating that the ETH market is warming up relative to on-chain fundamentals. Given the current ETF situation, this may be an ETH-only period. Historically, when ETH rises, other altcoins tend to follow.

Source: Ki Young Ju

Turning to altcoins, CryptoQuant CEO says chest coin dominance is waning after reaching a 15-month high in March. Chest coin dominance is the ratio of the total market capitalization of chest coins to the total market capitalization of altcoins. The analyst said, “Crypto Twitter, similar to a few years ago, is shifting from gambling to focusing on fundamentals. “Get your shit together, gentlemen, it’s over.” says.

Source: Ki Young Ju