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Is the next Altcoin season approaching? Some traders believe so

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Is the next Altcoin season approaching?  Some traders believe so

Last updated: April 29, 2024, 5:26 p.m. EDT | 1 minute reading

As Bitcoin shows signs of consolidation, anticipation is building around a potential new altcoin season.

The recent price movement has sparked discussion and speculation among traders about the possibility of an upcoming altcoin season.

Is the Bitcoin price recovery enough to fuel the next Altseason?

Ahead of the weekly close on April 28, Bitcoin surpassed $64,000 and data points to strengthening Bitcoin price over the weekend.

At the time of writing, Bitcoin is hovering around $62,600, while the altcoin’s total market cap has seen a modest 1% increase, hinting at a potential positive trend for these cryptocurrencies alternatives.

Trader and commentator Mustache predicted a full-fledged altcoin season, rivaling anything since the all-time highs of 2017.

In response to altcoin activity, ppopular X-rated trader Skew (formerly Twitter) that “Alts have rebounded well, but it remains crucial to break the trend of setting weekly highs on Mondays and Tuesdays.”

Skew suggested that there is a possibility of sell-side pressure hampering Bitcoin’s progress towards its near highs.

The trader suggested that Tether was trying to reclaim its position after falling below an ascending trendline earlier this year. This drop was just a backtest.

According to his statement, there is an inverse relationship between the value of USDT (Tether) and the value of altcoins.

Ethereum’s possible contribution to the next Altcoin season

The price of Ethereum has seen a substantial decline over the past six months due to skyrocketing gas prices.

ETH has fallen 10.46% this month alone from its April 9 high of $3,722.

Over the past week, Ether saw a slight increase of 4.3% in the market, but still not enough to rebound.

Analysts at crypto analytics platform Santiment have suggested that the Ethereum gas fees drop could potentially signal an upcoming altcoin season.

According to Santiment’s post X, Ethereum’s average transaction fees have fallen to $1.12.

Santiment predicts a faster than expected recovery for Ethereum and related altcoins due to the recent retracement and reduced demand on the network.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Binance Updates Taker Fee Promotion for Altcoin Trading Pairs

TokenTalk Staff

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Binance Unveils Cristiano Ronaldo NFT Collection 'Forever Worldwide: The Road to Saudi Arabia'





Binance, one of the world’s leading cryptocurrency exchanges, has announced updates to its Taker Fee promotion for various spot and margin altcoin trading pairs. This change is expected to take effect from July 1, 2024 at 00:00 (UTC), according to Binance.

Updated promotion details

The updated promotion will affect the following trading pairs: PEPE/USDT, STRK/USDT, ENA/USDT, SUI/USDT, WIF/USDT, NEAR/USDT, OP/USDT, BONK/USDT, LTC/USDT, FET/ USDT, ORDI/USDT, BCH/USDT, W/USDT, ARB/USDT, LINK/USDT, TIA/USDT, ETC/USDT, APT/USDT, RNDR/USDT and WLD/USDT. Users trading these pairs will benefit from the taker’s promotional fees until the specified date.

Once the promotion ends, standard fees will apply. Interested traders are advised to check Binance information spot and margin trading fee structure for more information on fees applicable after the promotion.

Binance’s Commitment to Competitive Services

This update is part of Binance’s ongoing efforts to review and optimize its promotional offers, ensuring that users receive the most cost-effective and competitive services. Regular reviews and updates like these are essential to maintaining a strong trading environment that benefits both new and experienced traders.

Binance continues to emphasize the importance of user experience by providing timely updates and maintaining transparency in its pricing structures. Such initiatives are part of the exchange’s broader strategy to remain a leading choice for cryptocurrency trading worldwide.

Implications for traders

Traders using the affected altcoin pairs will need to adjust their strategies accordingly once the promotion ends. With the return to standard fees, it becomes essential for traders to stay informed and plan their trades in order to effectively manage costs.

Binance also reminded users of the inherent risks associated with trading digital assets. The exchange advises traders to consider their investment experience, financial situation and risk tolerance before making any trading decisions. Binance is not responsible for any losses incurred due to market volatility.

For more details on the updated Taker Fee promotion and other related announcements, users can visit the official Binance website.

Image source: Shutterstock

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Altcoins

Here’s When Altcoin Market Cap Will Reach New All-Time Highs, According to Trader Jason Pizzino

TokenTalk Staff

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Here's When Altcoin Market Cap Will Reach New All-Time Highs, According to Trader Jason Pizzino

A widely followed analyst reveals a possible timeline for altcoin markets to record new all-time highs.

In a new strategy session, trader Jason Pizzino tells his 329,000 YouTube subscribers that he’s taking a close look at the TOTAL3 chart, which tracks the market capitalization of all crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins.

According to Pizzino, TOTAL3 experienced a 26-month accumulation period during the last cycle, spanning from late 2018 to early 2021, before launching a parabolic surge.

Pizzino says TOTAL3 could reflect the same pattern in this cycle and could be a few months away from triggering a strong bullish surge.

“That would take us around February, so the first quarter [of 2025]. As you look at the fourth quarter of 2024 – the first quarter of 2025, I think that probably had a pretty good move to a new high price…

All this fear of a market decline would be forgotten in the fourth quarter. I’m going to put myself in danger here. »

Source: Jason Pizzino/YouTube

Looking at the trader’s chart, he seems to predict that the total altcoin market cap will fall to the 50% Fibonacci level, at around $400 billion, before sparking a recovery and hitting a new all-time high at -above $1 trillion by early next year.

At the time of writing, TOTAL3 is hovering at $597 billion.

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Altcoins

Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

TokenTalk Staff

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Altcoin exodus cuts crypto market cap by 3.2%, Bitcoin falls to $64,000

Kitco NEWS has a diverse team of journalists who cover the economy, stock markets, commodities, cryptocurrencies, mining and metals accurately and objectively. Our goal is to help people make informed market decisions through in-depth reports, daily market summaries, interviews with leading industry figures, comprehensive (often exclusive) coverage of important industry events and analyzes of developments affecting the market.

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Altcoins

Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

TokenTalk Staff

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Trader Who Called 2022 Crypto Crash Bullish on Solana (SOL) and GPU-Focused Altcoin

An Analyst Who Accurately Called the 2022 Crypto Collapse Becomes Bullish on Solana (GROUND) and rendering (RNDR).

Analyst pseudonym Capo tell its 90,280 Telegram subscribers than Ethereum (ETH)-rival Solana and RNDR, the graphics processing unit (GPU) rendering blockchain, are likely in an uptrend.

“Added more to the long SOL and RNDR.”

Solana is trading at $133 at the time of writing, down almost 7% in the last 24 hours. Meanwhile, RNDR is trading at $7.17 at the time of writing, down 10% in the last 24 hours.

The analyst also monitors the OTHERS three-day chart, which tracks the total crypto market capitalization excluding the 10 largest digital assets and stablecoins, for signs of a rebound.

“Altcoins: the green zone is support but we should see a rebound soon. If green holds, then we should expect movement towards the red zones (T1 and T2). If green doesn’t hold, then blue. Judging by sentiment and indicators, I think the bullish scenario is more likely.

Source: Capo/Telegram

OTHERS is valued at $219.25 billion at the time of writing, down more than 7% in the last 24 hours.

Then the trader says that ETH against Bitcoin (BTC) could be preparing for an escape.

“ETH/BTC: This looks bullish.”

Source: Capo/Telegram

Looking at his chart, the analyst suggests that ETH/BTC could soon reach 0.065 BTC ($4,196). ETH/BTC is trading at 0.0532 BTC ($3,442) at the time of writing, up slightly over the past 24 hours.

Finally, the analyst claims that the bottom could be reached for the crypto market and predicts that a breakout is coming.

“The market has reached its lowest level again. BTC is holding above $65,000, but alts are suffering much more. It’s like that. Overall, it looks like local background training. Too negative sentiment and financing, filled offers and everything is very oversold. I still expect a strong rebound.

Bitcoin is trading at $64,661 at the time of writing, down 2.5% in the last 24 hours.

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