Bitcoin and Ethereum Explode Following Copper... "Altcoin Bull Run Start Signal Already Up"

▲ Copper, Gold, Bitcoin (BTC)/AI Generated Image

As copper futures hit an all-time high of $6.69 per pound, the possibility of a lagging rally in the altcoin market is being discussed again. Copper has risen 16.98% this year, outperforming gold futures' 8.38% increase over the same period, with global supply shortages and expanding demand for artificial intelligence (AI) infrastructure cited as key factors driving the price surge.

BeInCrypto reported on the 13th that copper futures reached an all-time high of $6.69 per pound. Copper prices have risen 16.98% since 2026 and are up more than 40% in the last 12 months. According to the article, the rise in copper prices is attributed to tight supply, declining inventories in China, and increased demand from data centers.

JPMorgan stated that Indonesia's Grasberg mine, which declared force majeure after a fatal landslide in September last year, is still not fully operational. It also explained that the production outlook for Chile's Quebrada Blanca mine has been downgraded due to operational issues, further exacerbating global supply shortages.

Demand pressure was also analyzed to be strong. Data centers, electric vehicle factories, power grids, and artificial intelligence infrastructure all require copper wiring. According to The Kobeissi Letter, China's exports in April increased by 14% year-on-year, with clean technology product shipments leading the growth. These components, with their high copper usage, were cited as a factor further pressuring global copper availability.

Market analysts are also noting the historical correlation between copper rallies and the altcoin market. Ash Crypto mentioned that copper rallies in 2017 and 2021 led to altcoin surges approximately six months later. He suggested that the global infrastructure expansion trend, which drove up copper prices, could eventually flow into cryptocurrency infrastructure and speculative capital.

Cryptocurrency analyst Michaël van de Poppe pointed out similarities between the copper-to-gold ratio and Ethereum (ETH)-to-Bitcoin (BTC) charts. He explained that copper began to show an upward trend against gold after about five years of a bear market, which coincides with the period when most altcoins experienced a bear market against Bitcoin.

Van de Poppe assessed that copper's breakout reflects a shift in the economic cycle and a recovery in risk appetite. He stated that this trend could be favorable for altcoins and that he is preparing for further gains in the altcoin market over the next one to two months, rather than a significant market correction in the short term.

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