Bitcoin Targeting $120,000 While Altcoins Signal Historic Breakout Potential
Bitcoin could be on track for a new all-time high of $120,000, as long as key support at $90,000 holds, according to market analyst Ali Martinez.
Citing on-chain data from CryptoQuant’s Cumulative Value Days Destroyed (CVDD) model, Ali notes that Bitcoin is currently in a strong accumulation phase with structural support building around $89K. The data suggests that if this level is maintained, the next market top could push BTC into six-figure territory.
“The next Bitcoin market top could be at $120,000 as long as the $90,000 support holds,” Ali stated on X.
Meanwhile, broader altcoin markets may be preparing for a significant shift. Michaël van de Poppe highlighted a record-setting bullish divergence on the TOTAL3/BTC chart, which tracks the market cap of all altcoins excluding Bitcoin and Ethereum.
“The longest bullish divergence since the existence of altcoins is being formed — and ready to break to the upside,” van de Poppe emphasized.
The divergence, visible on long-term technical charts, suggests altcoins may soon reclaim market dominance after a prolonged downtrend, potentially initiating a new altseason.
Together, these insights hint at a potent one-two punch: Bitcoin leading the charge with a strong rally, and altcoins poised to follow with outsized gains — marking a potentially explosive phase in the crypto cycle.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
