Bitcoin price after a prolonged consolidation below $34,000, successfully marched towards these levels in the past couple of hours. After breaking the crucial resistance levels at $33,778, the BTC price marched high and achieved the crucial levels. However, the asset needs to surge a little more around $34,600 in order to mark an uptrend.
On the other hand, most of the altcoins initiated an uptrend, intending to recover gains as soon as possible. The top altcoins like Ethereum, Binance Coin, Cardano, XRP, etc surged and sustained above their respective levels. If the uptrend continues for another couple of days, then the possibilities of return of the Altseason may also surface the waters.
As the BTC price surged with a small margin, most of the altcoins marched high. If the BTC price resumes its bull run and surges above the current ATH, then most of the altcoins will fly high.
The analyst also highlights the similar point that when Bitcoin is still ranging and most of the altcoins have already initiated with a notable recovery. However, when the much-awaited bull run resumes, there might be more volatility in the market. And hence, the probabilities of forming new highs for most of the coins may also jump.
Considering the present scenario, a huge surge in the Bitcoin price may take a little time beyond 2021. The most crucial level for the BTC price lies around $40,000 and sustaining above these levels may validate a bull run. And with the asset forming new higher highs, altcoins could march high to confirm yet another Altseason 2021.