Bitcoin Targeting $120,000 While Altcoins Signal Historic Breakout Potential
Bitcoin could be on track for a new all-time high of $120,000, as long as key support at $90,000 holds, according to market analyst Ali Martinez.
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.
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.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.