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The crypto market appears to be on the cusp of a major bull run, with several large-cap altcoins poised to break out in the coming days.
The Bitcoin price has bounced nearly 16% from its local bottom earlier this month and is currently trading at $63,000 at press time.
With the crypto market sentiment now decidedly bullish, a few experts are expecting BTC to push towards $72k, providing the ideal backdrop for altcoin prices to skyrocket.
Is The Crypto Bull Market Back?
Some analysts have warned that it would be premature to claim that Bitcoin is out of the danger zone, at least until it has reclaimed the $63,800 support level.
However, it is hard to discount the key bullish narratives at play. The failed assassination of former President Donald Trump has made him an overwhelming favourite to win the upcoming Presidential elections in November.
Trump has been unapologetically pro-crypto and is even scheduled to give a keynote address at this month’s Bitcoin 2024. More importantly, a Trump presidency would likely result in a pro-crypto SEC and CFTC administration, a decidedly bullish scenario for large caps like XRP.
The spot Ethereum ETFs are also expected to start trading this week. Analysts will continue to watch the ETH/BTC trading pair, which is currently hovering at 0.053. A breakout above the 0.06 mark paves the way for an altcoin bull market.
The start of the Federal Reserve’s quantitative easing could be the last domino to fall. The Fed appears poised to start cutting interest rates from September.
In essence, all signs point to a local bottom being in for Bitcoin, and a major crypto bull market appears to be on the horizon.
5 Best Altcoins To Buy Now
We list the 5 best altcoins to buy now that can potentially provide the maximum returns in an upcoming bull market.
Pepe (PEPE)
Experts remain largely bullish on Pepe, even as it is currently trading 43% below its all-time high.
PEPE’s bullish thesis is quite simple, The frog-themed meme coin shows a strong correlation with Ethereum, considering that smart money traders are viewing it as a beta play on ETH.
With the spot ETH ETFs to start trading soon, it would not be a surprise to see PEPE pushing towards a new high in the coming weeks. The meme coin is already up almost 9% today, owing to the improving crypto market sentiment.
All signs indicate that PEPE could emerge as one of the top-performing cryptocurrencies once again, especially if the ETFs see strong inflows.
In fact, some experts believe that it can flip Shiba Inu during this crypto bull market.
Pepe Unchained (PEPU)
A Pepe bull rally would likely provide a massive boost to other frog-themed tokens. While most copycat tokens act as pump-and-dump schemes, experts believe that Pepe Unchained can separate itself from the crowd.
The new meme coin has already caught the attention of investors, thanks to its native Layer-2 blockchain. Consequently, PEPU promises low trading costs and high staking rewards, providing the ideal backdrop for high retail investment.
Indeed, the Pepe Unchained staking protocol is currently offering a reward rate of over 500%.
Unsurprisingly, the meme coin is in high demand and has already raised over $3.6 million in its ICO.
Several smart money traders are also bullish on PEPU, with some even hinting at the possibility of 10x to 100x returns.
WienerAI (WAI)
WienerAI is another new Ethereum meme coin that has impressed analysts with its cutting-edge utility.
As the name suggests, it is a combination of memes and AI, a rare but promising mix. In fact, WienerAI has already raised over $7.4 million in its ongoing presale.
Similar to FLOKI, the project is launching its own Trading Bot, enabled by next-gen AI. Token holders can get all their crypto-related queries answered and receive alpha trading setups and MEV protection, at no additional cost.
If this isn’t enough, investors can stake their holdings and earn attractive yields, currently at an APY of over 150%.
Notably, new meme coins turned several small-scale investors into millionaires during this year’s Q1 crypto rally, Experts believe that this phenomenon could repeat in the upcoming bull market as well.
Consequently, some crypto influencers believe that WienerAI could potentially deliver up to 100x returns.
Solana (SOL)
With the spot Ethereum ETFs to start trading soon, all eyes now turn to Solana.
VanEck and 21Shares have already filed for spot Solana ETFs. Considering the success that BlackRock and Fidelity have had with Bitcoin, it is hard to foresee them not jumping into the race as well.
The current SEC administration – led by Gary Gensler – views Solana as a security. However, the Commission’s view can change under a new Chairman, which would likely be the case in a Trump presidency.
Unsurprisingly, the Solana price has climbed 10% over the past week to trade above $153 as the odds of a Trump presidency drastically improved.
Chainlink (LINK)
Chainlink has been the frontrunner of most crypto bull markets. The whales and institutions think that LINK will again emerge as one of the top-performing cryptos in the upcoming bull market.
Data from Lookonchain reveals that whales have purchased nearly $167 million worth of LINK since June 24th.
It seems that a mysterious whale/institution is accumulating $LINK!
We noticed 93 fresh wallets withdrawing 12.75M $LINK($167M) from #Binance since June 24!https://t.co/SkqA1r0F1N pic.twitter.com/AJR4fT36VG
— Lookonchain (@lookonchain) July 14, 2024
Michael van de Poppe of MN Trading, who has over 700k followers on X, reveals that the Chainlink price has successfully defended its range lows and is primed for a reversal. Other experts also expect the token to push towards the $20 price mark by the end of the month.
*Cryptonomist did not write the article or test the platform.
