Three Key Factors for the Explosive Growth of Altcoins:
Bitcoin Market Share Decline: Currently, Bitcoin's market share is approximately 58.54%. If its market share continues to decline and falls below the 56-57% range, it will provide more room for altcoins to rise.
Ethereum Strengthening: Ethereum needs to break free from its dependency on Bitcoin and establish an independent market trend. Once Ethereum surpasses the $4000 mark, it could trigger a broader market reaction.
Federal Reserve Interest Rate Cut Cycle: This macro factor is essentially in place, providing a more positive background support for the market.
Market Trends of Bitcoin and Ethereum:
Bitcoin's market share is still in a correction phase and has not yet bottomed out. If Bitcoin's market share continues to drop, it will provide more opportunities for altcoins' market performance.
Ethereum's valuation relative to Bitcoin is already close to historical lows, and it is expected not to fall below the support of 0.03, with the opportunity for a rebound approaching.
Future Outlook:
The exchange rate of Ethereum to Bitcoin may reach a new low in the scenario where Bitcoin breaks the $100,000 mark, with valuations possibly dropping to the range of 0.031 or 0.032. At this point, it may be worth considering a shift to Ethereum to seize potential explosive opportunities in the future.