#AltcoinBreakout

New lower support tests of Bitcoin divert traders' focus to XLM, LTC, ETC, BNB.

Bitcoin testing the underlying support and the possible start of an altcoin season are causing traders to focus on XLM, LTC, ETC, and BNB.

Key points:

🔸The continuation of Bitcoin's consolidation seems likely in the short term, but the trend remains positive as long as the price stays above $110,530.

🔸The charts for BNB, XLM, LTC, and ETC look positive.

Bitcoin BTC €100,668 remains in a consolidation phase while bears frustrate bulls' attempts to keep the price above $120,000. According to Jurrien Timmer, Director of Global Macro at Fidelity, BTC is right in the middle of its adoption curve compared to internet adoption in past decades. This suggests that BTC has more room to grow.

The rise of BTC and the approval of three key bills in the U.S. House of Representatives have boosted sentiment in the cryptocurrency sector. This brought the total cryptocurrency market capitalization to just under $4 trillion on Friday, according to CoinMarketCap. Since then, the market capitalization has cooled to $3.85 trillion.