Altcoins are coming!!!
Have you noticed? Altcoins seem to have gotten out of Bitcoin’s control. Even when Bitcoin is falling, altcoins continue to trend upwards, completely unaffected by Bitcoin.
The altcoin market is showing signs of reversing its recent bearish trend. It plummeted from a peak of $1.26 trillion in March to a low of $960 billion on June 24. As July has arrived, the market has seen a significant rebound, with the altcoin market up nearly 3% in the past few days, breaking the $1 trillion mark again, with a current market cap of $1.025 trillion.
The recovery in the altcoin market is closely tied to the simultaneous recovery of Bitcoin [BTC]. Bitcoin has risen by about 2.7% in the past week, with prices fluctuating between $62,000 and $63,000. We can clearly see that Bitcoin’s trading in this range indicates bullish momentum over the past 24 hours, such as the formation of a “pin candle”. This pattern often hints at a potential bullish reversal. Bulls pushed prices higher at weekly and monthly closes, showing strong upward momentum.
Altcoins are on track to surge 40% this week. Altcoins including well-known tokens such as Solana [SOL] are showing significant activity. By analyzing the Ethereum vs. Bitcoin chart, it can be seen that Ethereum's value may see a trend reversal and recovery. Many altcoins show potential on longer time frames. These tokens may soon surpass Ethereum and Bitcoin due to strong RSI levels indicating a bullish divergence.
In addition, the overall sentiment in the cryptocurrency market seems to be shifting in a positive direction. Analysts emphasize that the decline in USDT dominance indicates that the market bottom may be forming, paving the way for a significant rise. This sentiment is supported by the strategic movements of tokens such as ADA, RUNE, INJ, LINK, FTM, Solana, and DOT, which are all forming bullish patterns that may lead to a significant increase in prices. The layout is ongoing, and exchanges +: GOOOKOOOY welcomes everyone to participate actively
It is predicted that altcoins will perform strongly in the coming week, with an expected increase of 20-40%. Despite the optimism on altcoins, the view on Bitcoin is more conservative, believing that its price will gradually rise but will not surge to $70,000 immediately.
