Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,282)
  • Analysis (1,474)
  • Bitcoin (2,053)
  • Blockchain (1,192)
  • DeFi (1,406)
  • Ethereum (1,416)
  • Event (55)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,450)
  • Press Releases (1)
  • Reddit (705)
  • Regulation (1,348)
  • Security (1,945)
  • Thought Leadership (2)
  • Uncategorized (1)
  • Videos (41)
Hand picked
  • Ethereum fell 10% but has monthly gains – is the next pump load?
  • Daily Crypto Discussion – June 1, 2025 (GMT+0)
  • Bitcoin set to reach $ 120,000? The analyst predicted New Ath in mid-June
  • Bitmex discovers security defects in the operations of the Lazare group in North Korea
  • These 3 crypto projects warm up for 2025
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»Ethereum»Altcoin Season Fever Infects Analysts Calling for Bullish Move as Bitcoin Hits $64,000
Ethereum

Altcoin Season Fever Infects Analysts Calling for Bullish Move as Bitcoin Hits $64,000

September 28, 2024No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Token Rally.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


Receive, manage and grow your crypto investments with BrightyReceive, manage and grow your crypto investments with Brighty

According to several cryptocurrency analysts, altcoins are showing a notable breakthrough, hinting at a potential shift towards an altcoin-dominated market phase.

Analysts have observed that the total market capitalization of altcoins is increasing, breaking a long-standing downward trend. Technical and on-chain analyst Ali Martinez noted that while it is uncertain whether a true altcoin season has arrived, current developments represent a promising start.

Analyst Caleb Franzen shared his insights on altcoins measured via TradingView indices like TOTAL.3 and OTHERS. exceeds significant moving averages, particularly the 100-day and 200-day exponential moving averages (EMA). Franzen pointed out that the last such escape occurred in July 2023, during which altcoins used these EMAs as dynamic support to reach higher highs. He stressed the importance of monitoring the closes daily to confirm this trend.

Altcoin Breakout (Caleb Franzen)
Altcoin Breakout (Caleb Franzen)

Negentropic also highlighted the cyclical nature of the crypto market, suggesting that altcoins generally follow Bitcoin’s bullish momentum, often entering a vigorous phase once Bitcoin surpasses its all-time high and enters uncharted territory. The analysis indicates that after several instances since May where Bitcoin surged without triggering an altcoin season, current indicators show a simultaneous rise in the Bitcoin and altcoin markets.

The Bitcoin-Altcoin cycle chart from Swissblock Technologies illustrates this relationship. The chart depicts the inverse dynamics between Bitcoin and altcoin seasons throughout the year. When the Altcoin Seasonal Index is high, Bitcoin dominance tends to be lower, and vice versa. Currently, the index suggests that altcoins are gaining strength alongside Bitcoin rather than lagging like in previous cycles.

Altcoin Cycle (Swissblock)Altcoin Cycle (Swissblock)
Altcoin Cycle (Swissblock)

Bitcoin Season Overshadows Altcoins So Far in 2024

Despite these positive signs, it is important to consider the broader context of the market. Over the past nine months, altcoins have generally underperformed Bitcoin in terms of price recovery and proximity to their all-time highs. Bitcoin is trading around $64,334, approximately 12.77% below its ATH of $73,750, reached in March 2024. In contrast, many altcoins remain significantly below their peak prices. For example, Dogecoin is around 86.12% below its ATH, Cardano is down 89.22%, and Polkadot is down 92.49% from its high.

This disparity suggests that while Bitcoin has regained much of its value, altcoins have struggled to recover to the same extent. Factors contributing to this performance gap may include increased regulatory oversight affecting smaller cryptocurrencies, the maturity of the Bitcoin market providing resilience during volatility, and increased institutional interest primarily benefiting Bitcoin.

The current breakout in altcoin markets could mean a change in this trend. If altcoins continue to build on this momentum, it could lead to a more balanced recovery across the entire crypto market.

Currently, Bitcoin dominance is at 57%, down slightly from 58.6% on September 19. It reached its lowest level on September 10, 2022, at 38.9%, and has increased steadily over the past two years. Over the past five years, the highest level reached was 72% near the peak of the 2019 and 2021 bull runs.

📀 Top Layer 1 Crypto Assets

Show all

Mentioned in this article



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleBest Crypto to Invest in Right Now September 28 – Litecoin, Oasis, Altlayer
Next Article Huddle01, a Blockchain Video Conferencing Project Seeking to Surpass Zoom, Aims for $37 Million Node Sale

Related Posts

Ethereum

Ethereum fell 10% but has monthly gains – is the next pump load?

June 1, 2025
Ethereum

Ethereum faced with a familiar price barrier of $ 2,800

June 1, 2025
Ethereum

The binance boundaries accumulate Ethereum again-is history repeated?

June 1, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Kenya to Host Africa’s Leading Blockchain & Crypto Conference in June 2025 

May 30, 2025

Nairobi, Kenya – May 2025 — Africa’s rapidly evolving blockchain ecosystem will take center stage…

Event

Crypto Vision Conference 2025: A Breakthrough Day for Web3 in the Philippines

May 29, 2025

Makati City, Philippines — April 26, 2025 — The AIM Conference Center was a hub…

1 2 3 … 48 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Bitmex discovers security defects in the operations of the Lazare group in North Korea

June 1, 2025

Suis Hack: The Cetus protocol provides an update on the recovered funds

June 1, 2025

The dry defies the ETF status of the Solana and the Ether Jalls proposed funds

June 1, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 105,135.17
ethereum
Ethereum (ETH) $ 2,524.36
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.17
bnb
BNB (BNB) $ 655.21
solana
Solana (SOL) $ 155.73
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.191603
tron
TRON (TRX) $ 0.269237
cardano
Cardano (ADA) $ 0.678384