Altcoins have broken a three-year downtrend against Bitcoin, as the TOTAL3/BTC ratio surpassed a key resistance zone between $0.48 and $0.52. This breakout, highlighted by analyst Moustache, marks a significant shift in technical structure, with former resistance now serving as support. The TOTAL3/BTC ratio had previously declined from $1.20 in early 2022 to $0.30 by mid-2024.
Analysts, including Michaël van de Poppe, suggest this development signals the beginning of a new cycle of altcoin strength, reminiscent of previous bull phases in 2016 and 2019. This shift could indicate a renewed period of growth and interest in altcoins relative to Bitcoin.
Altcoins Break 3-Year Downtrend Against Bitcoin, Indicating New Cycle
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