• A cryptocurrency analyst has spotted a Golden Cross signal for altcoins.
• Donald Trump and crypto whales are accumulating BTC and altcoins.
• Bitcoin’s recent behavior is consistent with previous bull cycles.

A cryptocurrency analyst spotted a Golden Cross signal on the altcoins’ total market cap chart, signaling the potential start of a long-awaited altcoin season. The Golden Cross occurs when the “9” Simple Moving Average (SMA) curve crosses the “20” SMA. Notably, the altcoins tend to produce their most significant seasonal gains following the Golden Cross.

In his podcast Altcoin Buzz, the analyst highlighted the effect of the Golden Cross signal on the altcoin market, along with other fundamental factors, that suggested a strong altcoin season. Further, the analyst stated that President-elect Donald Trump would be using his new DeFi protocol, World Liberty Financial (WLFI), to purchase a notable number of altcoins ahead of his inauguration.

In the meantime, the analyst highlighted comments from other crypto experts who observed Trump’s crypto investments, which included BTC, HBAR, and XRP. The analyst cited that these moves could signal the possibility of the U.S. government approving ETF products for the cryptos next year. Further, the analyst noted that Trump’s WLFI joined several crypto whales to purchase other altcoins in addition to BTC, HBAR, and XRP.

Read also: Smart Money Moves: Whales Stock Up on Crypto Despite Market Downturn

Drawing attention to the onchain transactions, the analyst revealed that Trump and other crypto whales accumulated large volumes of LINK and ONDO tokens, setting the altcoin market for a potential rally in the upcoming months. Apart from HBAR, AVAX also received significant attention. 

Meanwhile, Bitcoin’s recent behavior is a massive boost to the crypto market, considering its consistency with the previous bull cycles. The flagship crypto bounced off a recent pullback to repeat a pattern of the past bull runs. Further, the analyst stated that Bitcoin would witness a classic bull run, following Trump’s inauguration and setting up of the Bitcoin reserve fund.