Trader Says Matter of Time Before Crypto Breaks to New All-Time Highs, Updates Outlook on Bitcoin, Ethereum and One Other Altcoin
Widely followed trader Michaël van de Poppe believes that new record highs are bound to happen for the crypto market.
The analyst tells his 794,400 followers on the social media platform X that he’s keeping an eye on the TOTAL chart, which tracks the market cap of all digital assets excluding stablecoins.
According to Van de Poppe, TOTAL is gearing up for a massive breakout after printing a series of higher lows since the start of 2024.
“A constant move upwards for the entire crypto market capitalization.
Matter of time until we’re breaking upwards to a new all-time high.”
At time of writing, TOTAL is trading at $3.323 trillion, down about 11% from its all-time high of $3.738 trillion, which it hit in December of 2024.
Turning to Bitcoin, Van de Poppe thinks that new all-time highs are in sight for BTC.
“This can still be classified as the build-up phase for Bitcoin.
I assume we’ll be starting to run up significantly in the coming weeks.”
At time of writing, Bitcoin is trading at $109,100.
As for Ethereum, Van de Poppe believes that ETH could spark a huge upside burst if it takes out resistance at $2,800.
“The moment it breaks out (whichever side), it’s going to be providing a big move.
Given that we’ve hit the low at $1,700 and sentiment is on the bottom, I assume we’ll break upwards, resulting in the start of the bull market.”
At time of writing, ETH is worth $2,570.
The last altcoin on the trader’s radar is the artificial intelligence (AI)-focused crypto project Bittensor (TAO). Van de Poppe thinks TAO needs to breach its resistance at around $350 to trigger a surge to his price target.
“TAO is on the edge of breaking back in the range, which would then fuel a move towards the other side of the range ($470).”
At time of writing, TAO is worth $328.
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