The crypto market has been trapped in a horizontal accumulation phase and is likely to continue until the fourth Bitcoin halving triggers the macro bull rally. Meanwhile, on-chain data has shown institutional money proliferating the crypto industry in the past few months in a bid to catch the long-term bullish wave.
Bitcoin’s investment products like ETFs and ETPs have been favored with fund inflows YTD, with most altcoins continuing to bleed. Moreover, most venture capital funds are under immense pressure to return profits and money to investors, despite the bearish outlook.
According to a popular crypto analyst on the X platform, Captain Faibik, time is running out on the accumulation phase and the altcoin breakout will happen soon. Notably, Captain Faibik expects the altcoin market, excluding Ethereum (ETH), to rally to about $1.4 trillion after next year’s Bitcoin halving. Meanwhile, the analyst urged investors to take advantage of the opportunity and accumulate as much as possible.
Sushiswap (SUSHI) is on the Verge of a Massive Breakout
SushiSwap (SUSHI) is preparing for an imminent breakout that could lead to a 517 percent rally. The crypt analyst argued that SUSHI has been forming a symmetrical falling wedge pattern on the weekly chart that depicts the bulls being well-charged. Trading around 61 cents on Thursday, the SUSHI price has formed a rising divergence on the weekly RSI with a possible triple bottom.