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Prominent crypto analyst Capo interprets Bitcoin’s dip below the $80,000 mark as “a gradual correction.” According to him, these downturns do not signify the end of the bull market; rather, they indicate that the upward trend is still intact. Capo emphasizes the critical importance of Bitcoin 
$109,555 surpassing $84,000 and Ethereum 
$2,579 exceeding the $2,000 mark, noting that altcoins may outperform Bitcoin in the upcoming period. As per current data, Bitcoin trades around $82,765, while Ethereum hovers near $1,926.
Expecting a Medium-Term Bottom for Bitcoin
Capo explains that the sharp decline following Bitcoin’s peak around $110,000 suggests a formation of a medium-term bottom. He highlights that the current levels represent a significant support zone necessary for a renewed upward trend, cautioning that short-term selling pressures could be misleading.
The market witnesses many investors resorting to sudden sell-offs, yet some are waiting for lower price points. Capo argues that the declines in funding rates are temporary, signaling, “Although the bear trap has gone deeper than expected, a local bottom is near,” hinting at a potentially favorable development.
Strong Recovery Potential in Altcoins
The analyst suggests that Bitcoin’s decline may create opportunities for altcoins. The TOTAL2 index’s ability to maintain support at $971 billion while nearing the $1 trillion threshold strengthens the expectation of a recovery in the altcoin market. According to Capo, if altcoins react positively at their support levels, it will signal optimism for the overall market.
As liquidity begins to return to the market and investors shift towards purchases, a rapid rise in altcoins could be triggered. If Ethereum surpasses the $2,000 level, it is anticipated that other cryptocurrencies will follow this trend.
