**Analysts Predict Altcoin Surge as Bitcoin’s Dominance Wanes: Bullish Q4 on the Horizon? 🚀📉**
Exciting shifts may be on the horizon for the crypto market! According to Bitfinex’s latest Alpha report, we're seeing intriguing dynamics that could signal a strong Q4 for altcoins. 🌟
As Bitcoin’s dominance wanes, dropping by 1.3% last week, altcoins are showing impressive resilience. The report highlights a 4.4% growth in the market cap of altcoins, excluding the top 10, suggesting a potential regime change where investors are turning their attention to altcoins. 💪📈
The report notes a dramatic 55% drop in altcoin open interest from its peak, pointing to reduced speculation and possible seller exhaustion. Meanwhile, the ETH/BTC ratio remains below its 365-day moving average, hinting at broader underperformance for ETH since the Merge. 📉
If Bitcoin’s dominance has hit a local peak, we could be on the cusp of a significant altcoin outperformance. With macroeconomic conditions potentially improving, the stage is set for a bullish Q4. 📊✨
Stay tuned and keep an eye on the altcoin space—it’s shaping up to be an exciting end to the year! 🚀🔍
