Over the last month, Bitcoin’s price has seen a significant surge. Its price has increased by 30%, reaching a new yearly high of $35,000, 10% above its previous peak this year. Interestingly, while the growth of Bitcoin is clear to see, the broader cryptocurrency market hasn’t quite managed to keep up. Related Reading: Bitcoin Price To Reach $170,000 in 2025 – Mathematical Model Predicts Altcoin Market Cap The Altcoin market cap, which is the total cryptocurrency market cap excluding Bitcoin, has been trading within a descending triangle. This pattern, characterized by its lower highs and equal lows, often indicates a bearish trend in the market. This pattern suggests sellers are gradually overtaking buyers. A breakout from such a pattern is typically seen as a bullish indicator, with the target being the first peak. In this case, the Altcoin market cap would potentially see another 15% increase, matching the yearly highs in April. Crypto total market cap excluding BTC. Source: TOTAL2 on TradingView A similar pattern was seen in the previous cycle, where the Altcoin market cap was trading within a descen ..
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