Crypto Bull Run Update: BTC at $100k+, Whales Accumulating and Altcoins Bottom Soon Before Breakout

The cryptocurrency market is eagerly awaiting the next altcoin bull run, and according to market analysts, the local market The altcoin bottom could happen as early as June. However, for a significant altcoin rally to occur, Bitcoin price must first break higher.

TLDR

• According to crypto analyst Rekt Capital, altcoins could find their bottom around early June, based on historical chart patterns.
• The market capitalization of altcoins, excluding the top 10 cryptocurrencies, has fallen more than 21% in the past month to $265 billion, but is still up 24% year to date and 167% over the past year.
• According to Aurelie Barthere, principal research analyst at Nansen, for a significant altcoin bull run, the price of Bitcoin must break higher.
• Bitcoin’s 200-day moving average recently broke above $50,000 for the first time, a significant milestone as it is widely considered a fundamental indicator that outlines bull and bear market cycles.
• Pantera Capital expects the price of Bitcoin to peak at $117,000 in August 2025, based on the average length of previous rallies and the impact of Bitcoin halving events on the price.

Popular crypto analyst Rekt Capital suggests that based on historical chart patterns, altcoins may find local price bottoms around early June, marking the start of the next altcoin bull cycle.

Despite a 21% decline in altcoin market capitalization (excluding the top 10 cryptocurrencies) over the past month, the market is still up 24% year to date and an impressive 167% over the past year.

Altcoin sentiment has historically correlated with the price of Bitcoin, and according to Alex Onufriychuk, blockchain consultant and Qubic Labs Accelerator coach, a prolonged period of consolidation may be in store due to the lack of sufficient new liquidity from Bitcoin ETFs in the US and elsewhere. Hong Kong.

He believes more fundamental changes, such as greater institutional and retail investment and favorable regulatory developments, are needed for a significant turnaround.

Bitcoin price action has been closely monitored, with the 200-day moving average (DMA) it recently topped $50,000 for the first time.

This milestone is significant as the 200DMA is widely considered a fundamental indicator that outlines bullish and bearish market cycles. In previous cycles, staying above the 200DMA was a bullish sign, while breaking above it often portended bearish momentum. Bitcoin’s ability to maintain prices above $50,443 could strengthen the uptrend.

Meanwhile, Bitcoin whales have intensified their accumulation despite the coin’s recent drop below $62,000.

According to on-chain data provider Santiment, BTC whales holding between 1,000 and 10,000 coins amassed 15,121 BTC worth $930 million between May 7 and 8, pushing the group’s total BTC holding to highest level in 14 days.

However, bearish sentiment remains significant, with Bitcoin recently breaking above its 20-day simple moving average (SMA), putting it at risk of further decline in the near term.

If the bears strengthen their position, they could push the price of the coin down to the support line of BTC’s descending channel pattern, potentially leading to a price around $57,000.

Despite the short-term volatility, venture capital firms Pantera Capital remains optimistic about the future of Bitcoin’s price. In a recent letter to investors, the firm revealed its Bitcoin Halving rally model, which predicts a bottom in the BTC price followed by a rise during the Halving rally.

Based on the average duration of previous rallies, Pantera Capital expects BTC price to peak at $117,000 in August 2025.

The firm highlights the relationship between halving events and the price of BTC, stating that if the demand for new Bitcoin remains constant while the supply of new Bitcoin is reduced by half, it will create upward pressure on the price. The anticipation of a price increase has also historically driven increased demand for Bitcoin, leading to the Halving events.

While altcoins could hit a local low in June, a significant bull run will likely require Bitcoin to reach higher first. Despite short-term volatility and bearish sentiments, long-term projections for Bitcoin’s price remain bullish, with Pantera Capital predicting a peak of $117,000 by August 2025.

As the cryptocurrency market continues to evolve, investors and enthusiasts alike will be closely monitoring the interaction between Bitcoin and altcoins, as well as the impact of fundamental factors such as institutional investment and regulatory developments.

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