 ▲ Virtual asset trading |
The virtual asset market has entered the most extreme fear phase in its 15-year history. However, key on-chain indicators are simultaneously signaling the formation of a historic bottom and the onset of an explosive bullish reversal.
Altcoin Daily, a cryptocurrency-focused YouTube channel, said in a video released on March 12 (local time) that seven core charts currently cutting across the market are sending strong rebound signals. The ratio of Bitcoin (BTC) supply in loss to supply in profit aligns with patterns seen at every previous cycle bottom, and the current price level near the production cost line—mining cost—suggests a strong buying opportunity. In particular, as Bitcoin ownership rapidly shifts from retail investors to institutions and governments, projections suggest that by 2036 their holdings could surpass those of individual investors.
In the altcoin market, meaningful changes have also been detected on higher time frames. The monthly Moving Average Convergence Divergence (MACD) indicator for altcoin dominance has recorded a bullish golden cross for the first time in about two and a half years, signaling the arrival of a potential “alt season,” during which altcoins outperform Bitcoin. Historically, when this indicator achieved a golden cross, the altcoin market experienced strong rallies lasting at least three to four months.
Large-scale entry by financial institutions and infrastructure integration are also accelerating. Mastercard has announced the launch of a partner program involving more than 85 companies to connect virtual assets to the global banking system. The initiative, joined by major players including Ripple, Solana (SOL), PayPal, Gemini, and Binance, demonstrates that the financial foundation is steadily moving onto blockchain rails. Meanwhile, USDC usage on the Ethereum (ETH) network has surged 250% year-over-year to reach an all-time high, underscoring growing real demand.
Nation-state accumulation is another key factor enhancing the market’s long-term value. Matthew Sigel, Head of Digital Assets at asset manager VanEck, stated that “the Central Bank of Kazakhstan recently announced it would add Bitcoin and virtual assets to its reserves,” emphasizing that central banks are actively engaging in mining using energy resources and acquiring digital assets. Michael Saylor, Executive Chairman of Strategy, continues aggressive accumulation efforts to secure supply scarcity, absorbing available market liquidity.
Asset manager Bitwise released a bold report projecting that Bitcoin could reach $1 million if it captures gold’s store-of-value market share from the current 4% to 17%. Video creator Rick Edelman dismissed claims that quantum computers could destroy Bitcoin, stating, “If quantum computers can attack, they can also be used to defend,” brushing aside technological concerns. The virtual asset ecosystem has evolved beyond mere speculation and is now firmly positioned as part of a massive financial system led by governments and institutions.
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