The post Bitcoin Price Pumps Past $62K – 3 Altcoins to Buy for the Bull Rally appeared first on Coinpedia Fintech News
The crypto bull rally is back as market leader Bitcoin steams past $62k.
The move has sparked feverish excitement among traders, hopeful to capitalize as altcoin prices increase.
BTC Price Rises as Market Jitters Ease
There are a lot of reasons to be excited about crypto today.
Not only are prices across the board up, but fundamental factors are aligning for a historic rally as we advance toward Q4.
It was a sigh of relief for the market on Saturday when news broke that Germany had sold all its Bitcoin holdings.
BREAKING: Germany's government sells off all of its #Bitcoin holdings, totaling $2.9 billion.
— Watcher.Guru (@WatcherGuru) July 12, 2024
The German government held approximately 50,000 BTC that it had seized from illicit activities and began selling them in July.
This caused deep fear, uncertainty, and doubt in the market, but now that the selling is over, traders are looking to brighter days.
$BTC Germany sold the bottom. Multi month consolidation about to resume to the upside. https://t.co/LrIFy8BLs0 pic.twitter.com/hJwxPAPV5E
— ฿ITCOIN TRAPPΞR (@BITCOINTRAPPER) July 15, 2024
At the same time, Bitcoin spot ETFs are back in high demand.
Data from Coinshares’ crypto fund flow report reveals that last week saw the fifth largest weekly inflows on record, at $1.35 billion.
All of this transpired in a Bitcoin price explosion.
Currently, BTC is trading at $62.7K, up over 8% this week, but remains at a 5% discount from last month.
Bitcoin’s market cap is $1.2 trillion, and its 24-hour trading volume is $35 billion, up 35% today.
And with fundamentals working in its favour, there’s every chance Bitcoin continues this bullish trajectory.
But despite BTC’s promising outlook, there are hopes that altcoins will outperform it in the coming months.
Analysts are keeping a close eye on Bitcoin dominance – the measure of Bitcoin’s market share.
54% is a key level.
A break below indicates that momentum is favouring altcoins, which could lead to a period where they dramatically outperform the market leader.
Milkybull Crypto believes that Bitcoin dominance has reached its high point for this market cycle, and altcoins are primed to start outperforming.
#Altcoins The final crypto cyclical bull run will be massive for Alts as the Bitcoin Dominance cycle top has finally been confirmed. Get prepared cos it's going to be interesting. pic.twitter.com/dnpUbGa5Es
— Mikybull Crypto (@MikybullCrypto) July 12, 2024
3 Best Altcoins to Buy Now
With that in mind, let’s explore three altcoins to buy amid the bull market rally.
99Bitcoins Token
99Bitcoins token is our top pick. With Bitcoin’s price gaining ground, one of the first places this new liquidity will flow is into its ecosystem tokens.
Large-cap projects like Stacks could benefit, but the newcomer 99Bitcoins token could see outsized returns due to its low market cap.
The project was created by the 99Bitcoins media outlet and is part of its novel Learn-to-Earn platform.
Think of Learn-to-Earn like Play-to-Earn, except swap of gaming for levelling up your crypto lore.
It’s a captivating concept that rewards users for learning about cryptocurrency.
As the bull market heats up, the demand for this service could skyrocket.
Users need the $99BTC token to access the platform, and there are other utilities like a VIP community group, staking rewards, BRC20 tools and education, and more.
$99BTC is undergoing a presale and has raised $2.4 million so far.
Those seeking to buy 99Bitcoins tokens should act fast because the price will rise throughout the presale.
Visit 99Bitcoins Token Presale
Dog (Runes)
Dog (Runes) is a meme coin within the Bitcoin ecosystem.
Despite launching in April when the crypto market was in turmoil, the project has exhibited impressive strength and currently holds a sturdy $520 million market cap.
It is built on Bitcoin’s new Runes protocol, which makes it easier to create and manage fungible tokens.
The project’s mascot is a cute dog in an orange Bitcoin hoodie and markets itself as having the fun of a meme coin with the trust of Bitcoin.
Dog is trading at $0.00522, up 9% today, 12% this week, and down 21% this month. Its 24-hour trading volume is $23 million, up 65% today.
Analyst Runetoshi hailed Dog for holding up better than many of its meme coin peers recently as the sector took a beating.
$DOG hasn't even retraced 50% from the peakWhile other tokens have been absolutely slaughteredThe saying 'The $DOG community is built different' isn't just words — it really means somethingNext leg up is going to be absolutely insane
— Runetoshi – RR (@runetoshi21) July 15, 2024
Given its relative strength and Bitcoin’s bullish outlook, Dog could be another crypto that outperforms the market on the bull rally.
Ethereum
Moving away from the Bitcoin ecosystem, Ethereum could be primed for huge gains ahead.
Ethereum spot ETFs were approved in June, and there are whispers that they will launch in July.
If Bitcoin ETFs are any indication, ETH’s price will rally after its ETF launches.
Another reason ETH could be a buy is its explosive recovery.
Prominent trader McKenna highlighted this in a recent tweet and suggested that ETH will push toward $5.1K as the market rallies.
$ETH moved way faster than I expected from the lows one of those brutal aspects in liquid that outsized return window is much shorter than people think. Difficult to highlight how important this is especially in a bull market. It pays to be an optimist.Target here is $5100 pic.twitter.com/iSYLvbYUTA
— McKenna (@Crypto_McKenna) July 15, 2024
Moreover, ETH has underperformed Bitcoin over the past year, up 80%, while BTC is up 114%.
But with Ethereum ETF launches approaching and Bitcoin dominance breaking down, it could be time for ETH to catch up.
And given its juncture as the second-largest cryptocurrency, Ethereum offers a potentially safer bet than other altcoins.
This could be a good or bad thing depending on the trader’s risk appetite and desire for high returns.
