Bitcoin Trend Reversal Possible If $74K Holds, Will Altcoins Follow?

Bitcoin rallied to $74,508 on Monday, a near-term resistance level. Wallets holding between 10 and 10,000 BTC have started accumulating, a pattern that has been bullish in the past. US spot BTC ETFs logged five straight days of inflows last week, and Bernstein noted that sustained ETF inflows together with steady corporate buying have strengthened BTC’s long-term holder base and market structure.

Material Indicators’ Keith Alan still views BTC as in a bear market and said the price may retest support near $60,000. Technically, BTC is showing signs of a trend reversal but higher levels are likely to attract sellers. A close above $74,508 would complete a bullish ascending triangle and open a path to $84,000.

Sellers would need to push the price below the moving averages to weaken the bulls, which could send the pair back to the support line and tilt the advantage to the bears. Several major altcoins have cleared overhead resistance, signaling demand at lower levels.

United States

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