Crypto Analytics Firm Swissblock Points to Further Bitcoin (BTC) Upside, Says Altseason May Already Be Here

Crypto analytics firm Swissblock suggests Bitcoin's price has room to grow, supported by strong on-chain fundamentals. Their analysis indicates that the recent price increase is not solely based on speculation. Bitcoin is currently valued at $119,154, a nearly 10% increase in the last week. Swissblock also believes that altcoins may be entering an 'altseason,' potentially in Wave 5 of a classic Elliot Wave pattern, which historically results in rapid price increases. Their target range for the total altcoin market cap is $1.79 trillion to $3.37 trillion. However, they caution that this altseason could be the final surge before the market cycle peaks.