Capo Sees Accumulation Phase in BTC, Says Altcoins Are Due for a Rally

Crypto analyst Capo remains bullish on Bitcoin (BTC), arguing that current market conditions resemble an accumulation phase rather than the start of a deeper collapse.

In a June 11 market update, Capo acknowledged that his bullish thesis has not played out yet but maintained that his broader outlook remains unchanged.

He noted that high-timeframe market calls often take longer to develop and that timing is frequently the most difficult part of macro investing.

Despite Bitcoin's weakness, Capo continues to view the current area as a major support zone, similar to February. He also pointed to increasingly bearish sentiment as a potential contrarian indicator, noting that many traders are now expecting significantly lower prices.