Pentoshi: bitcoin and altcoins are expected to see a bullish trend

Pentoshi, a popular crypto analyst , predicts that Bitcoin BTC $98,158.30 Bitcoin 0.89% Market capitalization $1.95 trillion VOL. 24 hours $1.63 billion and altcoins may go up after the recent market weakness. He noted that the OTHERS chart, which tracks the market capitalization of cryptocurrencies excluding the 10 largest assets and stablecoins, shows signs of growth.

According to him, the key resistance level for OTHERS is at $ 281 billion, and if it is overcome, the next target will be $ 320 billion. He also emphasized that long-term investors have been opening positions as early as $ 250 billion, making this point important to maintain.

Regarding Bitcoin, Pentoshi noted that despite the negative news background, the cryptocurrency continues to maintain strong positions. He recalled that in early February, he predicted the total capitalization of the crypto market at $ 4.42 trillion in the first quarter of this year. At the time of writing, this figure is $ 3.134 trillion.

Currently, Bitcoin is trading at $ 96,228, and the analyst believes that a new wave of purchases can be expected soon, which will push the market to update its historical highs.