Altcoin market cap shows bullish divergence as Bitcoin ETF inflows return

  • Michaël van de Poppe identified bullish divergence in the altcoin market capitalization near recent lows.
  • Bitcoin ETFs recorded $102.7 million in net inflows on October 1.
  • Bitcoin, Ethereum and XRP face resistance near $86,500, $2,800 and $1.60, respectively.

The altcoin market capitalization is showing bullish divergence near recent lows, prompting analyst Michaël van de Poppe to anticipate a short consolidation followed by a possible test of record highs in the fourth quarter. Bitcoin was approaching $86,000 at the start of October, while Ethereum traded around $2,650-$2,700 and XRP remained near $1.50. The recovery is unfolding ahead of Friday's U.S. September jobs report, with economists expecting about 90,000 new jobs and unemployment of 4.1%. U.S. spot Bitcoin ETFs drew $102.7 million in net inflows on October 1, led by $195.6 million for BlackRock's IBIT, after $148.7 million in withdrawals on September 30 ended nine consecutive sessions of inflows. Bitcoin still faces resistance around $86,500, with higher barriers at $87,500-$90,000, while Ethereum and XRP must clear $2,800-$2,900 and $1.60-$1.70, respectively, before their recoveries strengthen. Ali Charts identified longer-term potential targets including $190,000 for Bitcoin, $8,800 for Ethereum, $31.87 for XRP and $2,744 for Solana, but each projection depends on major breakout conditions that have not yet occurred.

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Altcoin market cap shows bullish divergence as Bitcoin ETF inflows return - CoinPost Terminal