Altcoins
Altcoin dumps ahead of inevitable rise; Top Crypto Analyst Stocks
The cryptocurrency market has seen a volatile trend recently, two weeks after the fourth Bitcoin (BTC) halving. The total cryptocurrency market capitalization fell more than 3% in the past 24 hours to around $2.4 trillion on Wednesday as Bitcoin bulls battled for control.
According to most crypto analysts, the notable silence in the crypto market precedes major volatility in the coming weeks.
Additionally, the arrival of more institutional investors via BTC spot ETFs will further fuel the supply-demand shock.
Michaël van de Poppe on the Altseason Timeline
As Bitcoin dominance exceeds 55% of the total crypto market cap, the planned alt season continues to be delayed. Notably, the last major season took place in 2021, when investors significantly distributed Bitcoin profits to the altcoin market.
With the price of Ethereum being the ultimate trigger for an altseason, popular crypto analyst Michaël van de Poppe has opened up the altseason could delay further. Moreover, the crypto analyst expects Ethereum price to decline further towards the support range between $2,480 and $2,563.
The crypto analyst noted that the anticipated rejection of spot Ether ETFs in the United States will weigh even more heavily on the altcoin’s bullish sentiment. Nonetheless, Poppe stressed that the US SEC will eventually approve spot Ether ETFs, perhaps before the next general election.
So what?
The cryptocurrency industry may continue its recent volatile market in the coming weeks before establishing strong support levels. As a result, it is prudent for every crypto investor, especially derivatives traders, to minimize their risk appetite and avoid forced liquidations.
For long-term investors, the coming weeks will be one last entry into buying as the crypto industry prepares for an exponential rally to new all-time highs.