Altcoins
Altcoins Are Ready to Steal Bitcoin’s Spotlight, Here’s Why
Altcoin holders have recently faced significant stress due to market movements over the past five weeks. Major changes and turning points often involve extreme pain and patience, causing many to give up. But we must remember that altcoins can only gain momentum when Bitcoin’s dominance wanes. Discussions over Ethereum ETFs are intensifying, with approvals and trading expected during the first week of July.
The Bitcoin Dominance Chart shared by Derek on X shows the current situation reflecting the peaks of 2017 and 2021, signaling the start of an altcoin bull market. At this critical stage, there is a major shift between sellers and buyers.
The upcoming Ethereum S-1 ETF is expected to be a game changer and attract the attention of Bitcoin whales. I believe the altcoin market will react with anticipation ahead of the Ethereum S-1 ETF launch in mid-July. There will be volatility during this period, but remaining calm and patient is key to getting through it.
Crypto Crusader predicts that July will be a very bullish month for the cryptocurrency market. If the ETF is approved, altcoin holders should prepare for the impact. Ethereum is expected to lead the market, reducing Bitcoin’s dominance and boosting ERC20 projects. This could spark a rapid altcoin season, and Bitcoin could reach $80,000 to $100,000 or more by the end of summer.
He wrote: “If the ETF approval happens in the first week, altcoin holders should brace themselves. Ethereum will start leading the market and steal the spotlight from Bitcoin.”
The Mustache Analyst noted on X that the 3W Gaussian channel has turned from red to green, signaling a buy, similar to 2020. With prices holding above the 10 EMA, it suggests that this could precede one of the biggest altcoin seasons ever.