比特币（BTC）继续领涨，这对加密货币市场造成了严重破坏。 尽管最近上涨至 7.3 万美元水平的最大加密货币在上个月的交易量增长了 43.50%，令人瞩目，但人们的注意力已开始逐渐转向被称为“山寨币”的较小参与者。

Amid the ongoing rally in cryptocurrencies, investors are keeping a close eye on the altcoin world to identify potential candidates for what is often referred to as “altcoin season.”

While Memecoins have made significant gains recently, attention has now shifted to other altcoins that are gaining momentum in the market, such as Ethereum (ETH), XRP (XRP), Cardano (ADA), Avalanche (AVAX) , Polkadot (DOT) and Chainlink (LINK) ). in case. While Bitcoin’s dominance has peaked, the meme coin appears to be losing steam while other altcoins are performing more strongly.

In particular, ETH, XRP, ADA, AVAX, DOT, and LINK rallied above the key $4,000 level. Additionally, altcoins such as Litecoin (LTC), Stellar (XLM), and Near Protocol (NEAR) have also made significant gains amid high expectations ahead of the Nvidia 2024 GTC conference. Market observers have warned that meme coins may experience a cooling off period as investors turn their attention to more promising altcoins.

The wealth effect of altcoins

Attributing current market trends to the classic wealth effect, Bitwise CIO Matt Hougan said cryptocurrency investors, driven by Bitcoin profits, are turning to altcoins in search of higher returns. As wealth is redistributed within the market, altcoins become increasingly popular, leading to what is historically known as altcoin season. Hougan added that typically the real altcoin season begins within 2-3 weeks after Bitcoin breaks out of its all-time high (new high), and the total value of the altcoin market may reach new highs.

Due to the unique dynamics of the current bull market, the expected altcoin season may differ from previous cycles. While Santiment’s data points to a notable turnaround, with Bitcoin hitting new highs and massive capital inflows via spot Bitcoin ETFs, altcoins haven’t received much attention.

Bitcoin’s rally could continue without a major pause and produce unprecedented price swings, fueled by new money from institutional investors following the approval of a spot Bitcoin ETF in the U.S. in January, fueling a potential mega-bull scenario. In the meantime, altcoins may remain under the radar until the largest cryptocurrencies take a breather from their initial surge, which could reshape the cryptocurrency market outlook in the coming weeks. #AMP #hifi #ACE #BTC‬ #PEPE‏


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