Crypto veteran and BitMEX founder Arthur Hayes is updating his outlook on when altcoins could have their time to shine. In a new essay, Hayes says that he expects the crypto market to respond positively to an anticipated massive injection of liquidity into the financial system from US Treasury Secretary Janet Yellen’s issuing US Treasury […]
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Altcoin prices have been in a rut, but a key alteason indicator hints that the “strongest wave” is yet to come.
The altcoin market had been trending down over the past two weeks, but a key indicator reveals that the recent drawdown could indicate a “relative momentum bottom,” which, if history repeats, could soon see a “concerted take-off,” according to crypto analysts.
The crypto Top 200 Equal Weight Index is “still trending down, but the Altseason indicator shows that the recent washout when it hit 10% was likely a relative momentum bottom,” according to Chief Crypto Analyst at Real Vision Jamie Coutts.
The crypto Top 200 Equal Weight Index is an equally weighted index that seeks to track the performance of the top 200 cryptocurrencies by market capitalization from that of Bitcoin.
An analyst who continues to build a following with timely crypto market calls believes that the stage is set for altcoins to witness a big burst to the upside. Pseudonymous analyst TechDev tells his 461,900 followers on the social media platform X that he’s looking at the two-week chart of OTHERS, which tracks the market […]
The post Massive Altseason on the Horizon As Altcoins Gear Up for 2017-Style Expansion, According to Analyst appeared first on The Daily Hodl.
Cryptocurrency analyst and trader Kevin Svenson believes that altseason, a period when altcoins significantly outperform Bitcoin (BTC), is close at hand. In a new video, Svenson tells his 78,600 YouTube subscribers that his bullish thesis for altcoins is informed by the price action of Bitcoin and Ethereum (ETH). “Altseason may actually take place very soon. […]
The post Altcoin Season Primed To Take Place ‘Very Soon,’ According to Crypto Analyst Kevin Svenson – Here’s Why appeared first on The Daily Hodl.
A closely followed crypto strategist believes that the altcoin market will go parabolic before the current crypto cycle ends. Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that one of two events likely needs to first occur before a massive alt rally takes off. “Generally speaking, I think we […]
The post Analyst Says Altcoins Primed for a ‘Face-Melting Rally,’ Outlines What Needs To Happen First appeared first on The Daily Hodl.
The number of Ethereum (ETH) holders continues to rise despite the top altcoin’s declining price, according to the analytics platform Santiment. Santiment notes that ETH’s growing number of wallets comes as Bitcoin (BTC) wallets have been dropping since mid-March. “Bitcoin holders have just had their biggest three-day drop in non-empty wallets since just prior to […]
The post Ethereum Holders Keep Growing in Numbers and Showing No Signs of Capitulation Despite Price Drop: Santiment appeared first on The Daily Hodl.
Real Vision analyst Jamie Coutts is warning that the altcoin market is in a bearish trend after a strong six-month long run. The former Bloomberg analyst tells his 18,400 followers on the social media platform X that most alts are now being outperformed by Bitcoin (BTC). “A quick update on the altcoin malaise. Most crypto […]
The post Real Vision Analyst Jamie Coutts Issues Altcoin Warning As Markets Kick Off Week in the Red – Here’s His Outlook appeared first on The Daily Hodl.
The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will vastly outperform gold for the remainder of the current bull cycle. The co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 63,000 followers that the BTC/gold ratio could more than double in the coming […]
The post Bitcoin Ready To Outperform Gold by at Least Double for Rest of Market Cycle: Glassnode Founders appeared first on The Daily Hodl.
Bitcoin market dominance briefly dipped below 50% as altcoins deemed securities by the SEC notched double-digit gains.
Bitcoin (BTC) dominance has taken a tumble in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission, with a surge in altcoin prices briefly causing BTC dominance to fall under the 50% mark.
Bitcoin dominance — the measure of how much Bitcoin makes up of the total crypto market cap — fell to 49.76% during Asian trading on July 14, according to Tradingview.
Just weeks earlier, BTC market dominance finally managed to rachet above 50% after a dry spell of two years, amid a slew of applications for spot Bitcoin ETFs from major financial firms. Over the last 24 days, Bitcoin dominance had been hovering around 51% and 52%.
The recent dip in Bitcoin dominance comes as the crypto community is chanting the return of “altcoin season.”
Boosted by Ripple’s court victory the XRP token skyrocketed 83% to top out at an intraday high of $0.866, and briefly became the fourth-largest crypto asset by market capitalization. It is currently sitting at 5th place after a tussle with Binance Coin (BNB).
ALTCOIN SEASON
— Carl From The Moon (@TheMoonCarl) July 13, 2023
The move was also noticed by members of the crypto community who were avidly celebrating the Ripple triumph.
Several of the altcoins also alleged to be securities by the SEC surged double digits on July 14.
XRP declared not a security.
— Will Clemente (@WClementeIII) July 13, 2023
Bitcoin dominance: pic.twitter.com/veZDJTHQlu
Ethereum (ETH) gained an impressive 8% to top $2,000 for the first time in three months while Cardano (ADA) pumped a massive 25% to reach $0.357 at the time of writing.
Solana (SOL), another token deemed a security by the SEC, was up 34% to reach $29 at the time of writing. Meanwhile, Polygon (MATIC) had pumped 20% to trade at $0.854.
Stellar Lumens (XLM), a payments network launched in 2015 as a fork of the Ripple codebase, cranked over 50% on the news.
Related: Which altcoins will survive the SEC crackdown? Bitcoin OG explains
However, it remains to be seen if this altcoin rally is sustainable as the longer-term view still shows that crypto markets are range-bound.
At the time of writing, BTC dominance is back to around 50.11% just above its 50-day moving average. The asset only managed a 3.5% daily gain to top out at $31,686 and was outperformed by its altcoin brethren.
Magazine: How smart people invest in dumb memecoins: 3-point plan for success
A closely followed analyst believes that the crypto markets are gearing up for a period when altcoins significantly outperform Bitcoin (BTC). In a new strategy session, trader Michaël van de Poppe tells his 163,000 YouTube subscribers that the Bitcoin dominance chart (BTC.D) has likely peaked for now and looks poised to roll over. The BTC.D […]
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