- Total crypto market cap sets new ATH.
- Analyst identifies this breakout as highly bullish sign.
- Silver-tongued analyst expects next ATH for BTC soon.
The high expectations for the bull run phase of the ongoing crypto bull cycle is being met steadily. First Bitcoin (BTC), the pioneer crypto asset set a series of ATHs within two weeks taking its price from $73,000 to $93,000. Analysts mark this move as just the beginning of a glorious bull run that will take BTC price to 6-digit ATHs.
Total Crypto Market Cap Sets New ATH
Meanwhile, the next bullish signal has been met. To highlight, the total crypto market cap finally broke out setting a new ATH of its own. According to CoinMarketCap analytics, November 19, 2024, 11:PM, the total market cap set a new ATH in the $3.13 trillion price range fueling extreme bullish sentiment.
Supporting this bullish era and Bitcoin’s price discovery phase is the Crypto Fear & Greed Index pointing to ‘Extreme Greed’ sentiment with a score of 83. One analyst notes how this total market cap high breakout is extremely bullish for the crypto market and states that ‘things are about to get silly’.
This Breakout Marks Bullish Start for Bull Run Phase
By the above statement, he means that new price highs are inevitable for the crypto market from Bitcoin to Altcoins. Moreover, he believes the new high will be exponentially high and will happen in a matter of minutes and hours. This is the same prediction many analyst made when Q4 of 2024 began.
With both September and October closing green, the rest of Q4 could indeed see parabolic pumps. Also adding to the bullish foray is the highly exciting altseason looming ahead. Many altcoins have already begun to pump and will likely go on to set a myriad of new ATHs in the coming months and the next year.
Presently, sentiment for Bitcoin to set a new ATH in the 6-digit range grows stronger. One particular silver-tongued analyst believes Bitcoin will hit a new ATH between $96,000 and $98,000 first before moving towards 6-digit figures. In fact, he expects BTC to hit an ATH of $550,000 by 2026.
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