Bitcoin Targeting $120,000 While Altcoins Signal Historic Breakout Potential

Citing on-chain data from CryptoQuant’s Cumulative Value Days Destroyed (CVDD) model, Ali notes that Bitcoin is currently in a strong accumulation phase with structural support building around $89K. The data suggests that if this level is maintained, the next market top could push BTC into six-figure territory.

“The next Bitcoin market top could be at $120,000 as long as the $90,000 support holds,” Ali stated on X.

Meanwhile, broader altcoin markets may be preparing for a significant shift. Michaël van de Poppe highlighted a record-setting bullish divergence on the TOTAL3/BTC chart, which tracks the market cap of all altcoins excluding Bitcoin and Ethereum.

“The longest bullish divergence since the existence of altcoins is being formed — and ready to break to the upside,” van de Poppe emphasized.

The divergence, visible on long-term technical charts, suggests altcoins may soon reclaim market dominance after a prolonged downtrend, potentially initiating a new altseason.

READ MORE:

Why a 4:1 Gold-to-Bitcoin Investment Mix May Offer Balanced Risk and Return

Together, these insights hint at a potent one-two punch: Bitcoin leading the charge with a strong rally, and altcoins poised to follow with outsized gains — marking a potentially explosive phase in the crypto cycle.

The post Bitcoin Targeting $120,000 While Altcoins Signal Historic Breakout Potential appeared first on Coindoo.