The altcoin market may be heading for a new low in June, according to Rekt Capital's analysis. Despite recent declines, the altcoin market has grown significantly this year, with a 24% increase since January and a 167% surge compared to last year.

Altcoins often follow Bitcoin's price movements, and their bull run is closely tied to Bitcoin's breakout from its current price range. If Bitcoin's price consolidates, altcoins may hit bottom levels in June, signaling the start of the next bull cycle.

The altcoin market is closely linked to Bitcoin's development, and market sentiment is influenced by Bitcoin's price movements. The decline in spot Bitcoin exchange-traded funds (ETFs) in the US has put pressure on the market, but this consolidation process could pave the way for a future altcoin rally.

For the altcoin market to ignite, Bitcoin's price needs to experience an upward breakout, according to Nansen's chief research analyst, Aurelie Barthere. While finding local bottoms in June is possible, a bull run may not start immediately, as significant recovery requires new liquidity and institutional investment, influenced by factors like regulatory changes and market enthusiasm.