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  • Mark Newton is a 25-year Wall Street veteran and the global head of technical strategy at Fundstrat.
  • Newton shares 5 popular altcoins that are near or at their 52-week highs and close to breakouts.
  • He also explains why the fourth quarter is most likely going to be “very positive” for bitcoin.

Bitcoin is taking a breather after surging to new all-time highs last week driven by the launch of the first futures-based bitcoin ETF.

The slight price pullback may be linked to a popular strategy during crypto bull runs where traders who have been invested in bitcoin take profits and rotate capital into altcoins in the hope of turbocharging their gains.

“We have definitely seen at least some buying power rotating into some of the altcoins,” Armando Aguilar, a digital asset strategist at Fundstrat Global Advisors, said in an interview.

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