Bitcoin proxies, in general, are not following the current BTC rally. Binance open interest (OI) has increased by 6% in the last 24 hours, suggesting that a BART pattern could emerge following tomorrowâs rate decision.
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Get ready for the upcoming period of heightened activity in the cryptocurrency market. As #altcoins begin to show signs of awakening, it's essential to be prepared to shift your focus to analyzing charts and seizing opportunities. Over the next 6-12 months, you'll need to be constantly online as significant chances for life-changing gains are likely to emerge.
The recent price pumps are just the beginning, with whales starting to accumulate in anticipation of what lies ahead. Instead of making excuses, take full responsibility for your actions and concentrate on your strategy. The market is poised to make significant moves, so be ready to capitalize on them. Let's stay focused and make some serious gains!
It would be better if Powell opted for a more conservative approach and granted us a 25 basis point rate cut instead of a 50 basis point cut!
Those advocating for a 50 basis point rate cut next week should consider the historical precedents of January 2001 and September 2007, when the Federal Reserve initiated cutting cycles with a 50 basis point reduction.
If the Fed believes a significant rate cut is necessary due to economic deterioration, it may not bode well for market sentiment. If the Fed believes a significant rate cut is necessary due to economic deterioration, it may not bode well for market sentiment.
It's encouraging to see that the bulls of most altcoins are standing strong and defending the line. The weaker hands have largely been shaken out by now.
It's up to us, the diamond hands, to keep pushing forward and make a difference.
Why Are #Altcoins Struggling in the Current Market as compared to #Bitcoin  ? This is just my two cents worth of opinion...
1. Stagnation of Fresh Funding:
The influx of new capital into the market has slowed. Where are your favorite neighbors, barbers, and Uber drivers? They aren't investing. A look at the total stablecoin market cap reveals only $3 billion in new funding since April 23.
2. Proliferation of New Coins Causing Massive Dilution:
Exchanges are listing too many new coins without stringent reviews. These coins often have high market valuations and are surrounded by misleading marketing, with a significant number of tokens being unlocked simultaneously.
3. Insufficient Market Liquidity:
The sheer number of altcoins dilutes market liquidity, drawing funds away from each other. Meanwhile, ETFs are gradually directing funds towards BTC and ETH, leaving altcoins with inadequate liquidity.
4. Lack of Long-Term Vision by Project Owners:
Many project owners lack a long-term vision and tend to sell their coins shortly after listing, offering little market support.
5. Disappearance of Market Hype:
Market excitement has waned, leading to price drops at the slightest sign of disturbance. Investors are reluctant to support each other, making it difficult to accumulate coins for long-term investments, which often end up losing value.
How Could Recovery Happen?
Recovery might be possible through coordinated efforts by institutions to boost the market, the approval of Ethereum ETFs to increase liquidity, the resolution of geopolitical conflicts, lowered interest rates, and the start of the presidential election cycle.