According to Michaël van de Poppe, the lack of movement in the altcoin markets is directly tied to a strong risk-off sentiment against the US Dollar, as seen in currency markets. He points out that in July 2019, a significant Ethereum bull run began shortly after CNH/USD (Chinese Yuan offshore to US Dollar) reached its bottom. Notably, CNH/USD has bottomed again this month, which van de Poppe suggests could mark the bottom for altcoins as well (source: Twitter/@CryptoMichNL, April 25, 2025). Traders should closely monitor CNH/USD as a leading indicator for potential altcoin market reversals, aligning their strategies with historical patterns and macroeconomic risk signals.