Category Archives: Altcoin

Ether ETF Speculation Could Weigh on SOL, Wider Altcoin Market – CoinDesk

"ETH has been a de-facto funding token of this bull cycle, similar to the low-yielding Japanese yen in the currency market. With renewed hopes of a spot ETH ETF, traders would want to square off their ETH shorts vs SOL and other tokens," Ilan Solot, co-head of digital assets at Marex Solutions, said in an interview. "The unwinding of shorts will happen over time, ensuring ether outperformance in the near-term."

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Ether ETF Speculation Could Weigh on SOL, Wider Altcoin Market - CoinDesk

Retik Finance (RETIK) Named the Best Altcoin to Buy in 2024 ‘If You Missed Out on Shiba Inu (SHIB) and Dogecoin … – NewsBTC

The rapid ascent of meme currencies such as Dogecoin (DOGE) and Shiba Inu (SHIB) has caused disruptions in the cryptocurrency market. Early investors received income from these coins that changed their lives, making those who missed out envious. Retik Finance (RETIK), which attracted the attention of the cryptocurrency world with its eagerly awaited CEX listings, seems as the next potential altcoin as 2024 progresses. For those who were unable to catch the Dogecoin and Shiba Inu rallies, this article explains why Retik Finance appears to be the greatest alternative cryptocurrency investment.

Shiba Inu, often dubbed the Dogecoin killer, burst onto the scene in 2021, riding on the coattails of the Dogecoin success. Those who bought SHIB early witnessed astronomical returns, with the tokens value increasing by 1000x at its peak. However, many potential investors missed out on these gains because SHIB was not listed on major exchanges until much later. In May 2021, the market capitalization of Shiba Inu soared to $39.50 billion but has since settled at around $14.2 billion. The coins appeal lies in its meme culture, community support, and continuous ecosystem development, including the Shibdentity digital identity framework.

Dogecoin, originally created as a joke, saw an incredible surge in 2021. Retail investors flocked to the token, driving its market cap to a staggering $80 billion. The price peaked at $0.73, especially during Elon Musks appearance on Saturday Night Live, before falling back to its current value of around $0.152. Despite its volatility, the rise of Dogecoin demonstrated the potential for meme coins to achieve significant market influence and profitability. Investors who timed their buys and sells perfectly made up to 1500x, but many missed out on these life-changing profits.

For investors who missed the SHIB and DOGE gains, Retik Finance (RETIK) presents a compelling opportunity. Positioned as a disruptive force in the decentralized finance (DeFi) sector, Retik Finance offers innovative solutions that cater to the evolving needs of the digital economy. One of its standout features is its dedication to providing cutting-edge DeFi solutions. The platforms primary product, RETIK DeFi Crypto Cards, offers unmatched convenience and flexibility for cryptocurrency transactions. Additionally, Retik Finances Smart Crypto Payment Gateway, AI-powered Peer-to-Peer (P2P) Lending and Multi-Chain Non-Custodial Highly Secured DeFi Wallet set it apart from other DeFi projects. By democratizing access to financial services through blockchain technology, Retik Finance aims to empower individuals globally to take control of their financial futures.

The presale campaign organised by Retik Finance was a resounding success, witnessing a 405% surge in participation and securing over $32 million in funding. This overwhelming support underscores the growing demand for innovative DeFi solutions and investor confidence in Retik Finances vision. The presale success positions Retik Finance as a major contender in the DeFi landscape, promising significant returns for early investors.

A strong community is essential for any cryptocurrency project, and Retik Finance boasts a dedicated and enthusiastic following. Community members actively contribute to the platforms growth, participate in governance decisions, and help raise awareness among a broader audience. To celebrate the presale achievements, Retik Finance has launched a contest with a $5,000 prize pool, encouraging community members to share unique images, memes, or videos expressing their excitement. This engagement not only fosters a sense of belonging but also drives the projects momentum.

A key factor contributing to Retik Finances potential success is its approach to global crypto adoption. Unlike many projects that aim to eliminate fiat currencies, Retik Finance seeks to bridge the gap between traditional financial systems and cryptocurrencies. This integration allows for a seamless fusion that enhances the real-world utility of digital assets, making them more accessible and practical for everyday use. Retik Finance aims to democratize access to financial services by leveraging blockchain technology. By providing innovative DeFi solutions, the platform empowers users worldwide to take control of their financial destiny. This mission resonates with a growing number of investors seeking to participate in the evolving digital economy.

As the highly anticipated CEX listing approaches, excitement within the cryptocurrency community is palpable. Retik Finance (RETIK) is set to go live on May 21st, 2024, at 12 PM UTC on several exchanges, including Uniswap, MEXC, P2B, and many more. The buzz surrounding these listings is driving investor interest and market speculation, with many believing that RETIK could be the next big thing in the crypto space. Forecasts suggest that Retik Finance could see a surge of up to 3600x by the end of 2024. This potential for astronomical gains is attracting investors who missed out on the SHIB and DOGE rallies. Retik Finances strong fundamentals, innovative products, and robust community support make it a promising candidate for significant market impact. The projected price gains and successful presale campaign add to the optimism surrounding RETIKs future.

For those who missed out on the spectacular gains of Shiba Inu and Dogecoin, Retik Finance (RETIK) offers a promising new opportunity. With its innovative DeFi solutions, successful presale campaign, active community, and highly anticipated CEX listings, RETIK is positioned to become a major player in the cryptocurrency market. As the launch date approaches, excitement and speculation are driving investor interest, making Retik Finance the best altcoin to buy in 2024. The combination of strong fundamentals, real-world utility, and potential for massive returns makes RETIK a compelling investment for the future.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: http://www.twitter.com/retikfinance

Telegram: http://www.t.me/retikfinance

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Retik Finance (RETIK) Named the Best Altcoin to Buy in 2024 'If You Missed Out on Shiba Inu (SHIB) and Dogecoin ... - NewsBTC

Seasoned Investor Eyes Over $1B Market Cap For This Altcoin That Utilizes XRP – The Crypto Basic

Thanos expects Root Network (ROOT) to surpass the $1 billion market cap due to its recently launched Root Name Service (RNS) and utilization of XRP for cheaper transactions.

Crypto Thanos, a seasoned crypto investor, has called the publics attention to Root Network, a project they expect has the potential to reach a billion-dollar market cap.

The pseudonymous investor asserted that ROOT is one of the few crypto assets that will ever surpass the $1 billion market cap mark. At the time of writing, ROOT boasts a market cap of $46,930,428 ($46.93 million) and is ranked as the 655th-biggest cryptocurrency on CoinMarketCap.

To hit the $1 billion market cap, ROOT must surge by 2,030% from its current valuation of $46.93 million. Reaching the $1 billion valuation seems like an uphill task for ROOT, given that the token is expected to surge over 20x.

Nonetheless, Thanos believes the coin can surpass the $1 billion cap in its lifetime. The investor did not issue a timeline for when they expected this prediction to materialize.

Thanos issued the forecast while reacting to the launch of Root Name Service (RNS), a cross-platform digital identity solution built on Root Network. The solution, introduced in March, finally went live on May 19 at 06:30 PM (EDT).

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Users who wish to own a unique digital identity via RNS can make payments with ROOT and USDC. Like every other Root service, the transaction fees for RNS will be paid in XRP from an EOA address.

According to Thanos, Roots RNS is superior to the popular Ethereum Name Service (ENS), with the potential to outperform it in the long term.

Launched in July 2023, Root Network is a Layer-1 blockchain designed to serve as the central infrastructure for the open metaverse. The crypto project uses a dual-token system. While ROOT performs the role of governance and security within the Root ecosystem, XRP is used as the official gas token.

Besides serving as the Root Networks official gas fee token, XRPs utility was expanded by leading decentralized exchange Moai Finance following the introduction of a single-sided staking service for the coin.Moai also paired XRP with other Root Network-based tokens, including USDC and ROOT.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Seasoned Investor Eyes Over $1B Market Cap For This Altcoin That Utilizes XRP - The Crypto Basic

If SEC approves ether ETF, will it approve altcoin ETFs? – Protos

With the likelihood of the Securities and Exchange Commission (SEC) approving a spot ether ETF suddenly rising, altcoin investors are speculating on a possible flurry of approvals for additional coins.

Indeed, just this morning, WisdomTree gained approval from the UK Financial Conduct Authority to list its 100% physically backed Ethereum ETP on the London Stock Exchange as early as May 28 although the products will not be available for retail investment.

The bullish momentum for ether, which is up 29% this week alone, might spill over into other crypto assets.

On Monday, Bloomberg ETF analysts James Seyffart and Eric Balchunas declared that the likelihood of the SEC approving a spot ether ETF had jumped from 25% to 75% thanks to the agencys reported commentary to at least one exchange and one ETF applicant regarding their 19b-4 exchange rule change request.

The Wall Street Journal confirmed the news while CoinDesk also cited three people familiar with the matter. Around the same time and without citing 19b-4 news, David Han at Coinbase Institutional wrote a note adjusting his outlook for a spot ether ETF upward.

Barrons claimed staff workers at the SEC told exchanges that it is leaning toward approving them, according to people familiar with the matter.

As early as tomorrow, the SEC could approve a so-called 19b-4 filing that, alongside a related S-1 filing the deadline of which is weeks away, might lead to an eventual listing of a spot ether ETF by investment manager VanEck.

Other ETF sponsors have also filed 19b-4 applications with the SEC for a spot ether ETF, including Fidelity, 21Shares, Invesco/Galaxy, and Franklin Templeton. VanEck requested the earliest response date: tomorrow.

Certainly, ether is just one of many altcoins trading on US stock exchanges via trusts. There are over a dozen trusts publicly trading in the US holding alternate crypto assets: Litecoin (LTC), Chainlink (LINK), Basic Attention Token (BAT), Bitcoin Cash (BCH), Decentraland (MANA), Ethereum Classic (ETC), Filecoin (FIL), Polkadot (DOT), Horizon (ZEN), Stellar Lumens (XLM), Livepeer (LPT), Zcash (ZEC), and Solana (SOL).

So, if the SEC approves a spot ether ETF, could it also approve ETFs for additional altcoins?

The logic of altcoin proponents arguing that non-ether spot altcoin ETFs might gain SEC approval shortly after a spot ether ETF usually follows a simple argument: If the SEC permitted Grayscale to convert its bitcoin trust into an ETF, why would commissioners deny trust sponsors of other crypto assets to convert into an ETF?

For obvious reasons, that argument might fail if the SEC claims the crypto asset is an unregistered security. However, the SEC hasnt classified all crypto assets held in US public trusts as securities.

Interestingly, many crypto trusts trading on OTC Markets, a US stock exchange, hold expressly SEC-designated unregistered securities, including SOL, MANA, and FIL. More crypto assets are rumored to be SEC-designated unregistered securities: ZEN, XLM, and ZEN.

Nevertheless, there are certain trusts trading on US OTC Markets that dont hold SEC-designated unregistered securities, such as DOT or ETC trusts. Perhaps, if the SEC were to approve a spot ether ETF, commissioners might approve spot ETFs based on such possibly non-security crypto assets.

Its worth noting that just because the SEC hasnt classified a crypto asset as an unregistered security doesnt mean that its not. Congress didnt task the SEC to proactively classify all assets. Instead, the SEC simply chooses to accept or reject applications that it receives, or file enforcement actions against illegal conduct on a case-by-case basis, as it has the time, money, staff, and resources.

Silence from commissioners doesnt indicate non-designation.

Of course, there is a counterargument against this logic. Unlike altcoins like DOT or ETC, only bitcoin and ether have futures contracts listed on the Chicago Mercantile Exchange (CME). This CME market of significant size for ether alone might be a carrying reason for approving only a spot ether ETF and not any other altcoin.

According to reports from Bloomberg, Barrons, and Wall Street Journal sources, the Trading and Markets Division at the SEC has requested amendments to an exchange and sponsors joint 19b-4 form likely VanEck. This is a bullish sign for a possible spot ether ETF approval because, in the view of market observers, the SEC is typically silent or disinterested in 19b-4 filings if it intends to reject them.

Because the SEC is asking for a reapplication, the reasoning goes, its interest is likely a positive development.

Many viewed the SECs stance toward a spot ether ETF as decidedly negative. Joe Lubins ConsenSys even sued the SEC claiming that commissioners had secretly categorized ether as an unregistered security.

Therefore, if the SEC is actually considering a possible approval of a spot ETF for Ethereum, it would be a marked change of tone.

Read more: ConsenSys says the SEC designated ETH a security but wont say where

Amid all of these media reports, the price of ether has rallied by 29% over the past seven days outperforming bitcoins 12% rally by an additional 17%.

Form 19b-4 asks applicants for the information necessary for the public to understand why the SEC should change its Section 19(b)(1) rules pursuant to the Securities Exchange Act of 1934. In this case, the exchange and an ETF sponsor must explain why the SEC should allow ether to be used as the sole asset of a spot ETF.

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If SEC approves ether ETF, will it approve altcoin ETFs? - Protos

XRP whales acquire 300M+ tokens as altcoin joins rally: What do they know? – AMBCrypto News

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AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

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XRP whales acquire 300M+ tokens as altcoin joins rally: What do they know? - AMBCrypto News

Big Altcoin Returns a Thing of the Past? Analysts Weigh In – Watcher Guru

The cryptocurrency market, renowned for its volatility and high-stakes nature, has always held a particular fascination with altcoins. These assets, emerging in the shadow of Bitcoin [BTC], have offered the allure of massive returns. Bitcoin, for instance, has seen a slight drop and was trading at $65,700. However, recent market trends indicate that the era of extraordinary altcoin gains might be drawing to a close.

Altcoins are increasingly perceived as high-risk investments with declining chances for significant returns. Markus Thielen, head of research at 10xResearch, captures a widespread view among crypto analysts. He said,

While tactical opportunities exist, the era of 100x returns may well be behind us.

This skepticism about the current dynamics of the altcoin market is widely shared within the community. Thielen points out that the expected altcoin bull market has not significantly materialized. The lack of substantial retail engagement and the scarcity of innovative new projects have reduced the enthusiasm that once drove altcoin investments. He further notes,

retail participation remains subdued, and few new projects have emerged that captivate non-crypto-native traders.

In the past, altcoin bull markets were driven by compelling narratives and substantial capital inflows. These thrive on the promise of blockchain technology revolutionizing traditional financial systems. However, Thielen observes that the current cycle lacks these strong narratives. Tight capital conditions are evident in the low total value locked in decentralized finance [DeFi] projects.

Also Read: Cryptocurrency: 3 Coins To Capitalize Right Now For Solid Gains

Michael van de Poppe, a prominent analyst adds to the cautious outlook by highlighting the risks of holding a portfolio heavily weighted towards altcoins. In a recent X post, the analyst shared his personal experience of significant losses. He added,

Whats the downside of this bet? Its relatively huge. At the moment of posting, Im down around 20% already in a matter of 1-2 weeks on the overall investment.

Ive sold all my #Bitcoin

Yes, I did. I didnt lose my faith in Bitcoin, Im not expecting Bitcoin to be topped out for this cycle. Ive not become a complete believer in Gold.

Ive sold all my Bitcoin.

In this longread Ill explain why Ive done this and what Ive done with

The altcoin market is navigating a challenging phase where high-risk bets are becoming less attractive due to the absence of compelling narratives and significant capital inflows.

Also Read: Surging Beyond WIF, SHIB,& XRP, This Coin Dominates 24 Hour Trading!

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Big Altcoin Returns a Thing of the Past? Analysts Weigh In - Watcher Guru

Is the altcoin season ‘maniac phase’ about to flip on? – Finbold – Finance in Bold

Bitcoins (BTC) recent surge to a record $71,000, followed by a pullback, has set the stage for what many in the cryptocurrency sector believe could signal the onset of an altcoin season.

The coming two weeks are set to be pivotal for the entire altcoin industry. The United States House of Representatives is preparing to vote on the Financial Innovation and Technology for the 21st Century Act (FIT21).

Additionally, the United States Securities and Exchange Commission (SEC) is set to vote on spot Ethereum exchange-traded fund (ETF) later this week. Speculation about the likely approval of both the FIT21 bill and the spot Ethereum ETFs has been rife, driving increased activity in the crypto markets.

At press time, the global cryptocurrency market cap stands at $2.73 trillion, a 0.45% decrease in the last 24 hours.

The cryptocurrency market began the week with strong bullish momentum, led by Ethereums (ETH) recent surge to $3,800, which in turn has driven notable gains across major altcoins.

Historically, Bitcoin initiates market cycles with a robust surge, but significant action typically unfolds during its consolidation phases, where other cryptocurrencies take the lead.

This trend is expected to become more pronounced in the upcoming period, driven by varying forecasts from leading analysts

Prominent crypto analyst Michal van de Poppe observed that the altcoin market cap, referred to as TOTAL2, has completed its recent correction.

Poppe suggested that the altcoin market cap is well-positioned for a rally to retest its all-time high (ATH). Additionally, most altcoins, led by Ethereum, have broken out of a bullish flag pattern in recent days.

Another well-known analyst, Rekt Capital, noted in a post on X (formerly Twitter) that the altcoin market cap, excluding the top 10 cryptocurrencies, has successfully retested the $250 billion level as a support level over recent weeks.

According to his analysis, the altcoin market cap is expected to surge to $315 billion before retracing back to the $250 billion mark. This retracement is projected to be followed by an explosive surge above the $440 billion market capitalization.

Prominent analyst advise investors not to panic and to prepare for the upcoming maniac phase. Prominent crypto analyst Crypto Yoddha shared that the recent dip was just a higher low in an uptrend.

According to his analysis, the altcoin market is looking to retest the $1.27 trillion resistance level seen in March before aiming for the previous cycles $1.7 trillion all-time high. He anticipates a bullish continuation leading to a new market all-time high during the next phase.

Despite these optimistic projections, the altcoin season index by Blockchain Center presents a contrasting view.

According to this index:

If 75% of the top 50 coins performed better than Bitcoin over the last season (90 days), it is Altcoin Season.

Currently, only 37% of the leading 50 altcoins have outperformed Bitcoin in the past 90 days, still insufficient to officially declare an altcoin season.

The cryptocurrency market stands at a critical juncture, with significant legislative decisions and market movements on the horizon.

While many analysts are optimistic about the potential onset of a new altcoin season, contrasting indicators suggest investors should proceed with caution.

The coming weeks will be crucial in determining the direction of the altcoin market, potentially leading to a maniac phase or continued consolidation.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Is the altcoin season 'maniac phase' about to flip on? - Finbold - Finance in Bold

SEC targets Ripple’s stablecoin; What to expect from Bitcoin & this new AI altcoin in May? – crypto.news

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Ripple, known for its XRP token, is back in the headlines, but this time, its about their upcoming stablecoin launch.

Yep, you heard right. Ripples planning to drop its own stablecoin later this year, but it looks like theyve caught the watchful eye of the SEC.

Brad Garlinghouse, Ripples CEO, isnt shy about calling out what he sees as the U.S. governments overreach, especially concerning Tether, the giant in the stablecoin space. Garlinghouse hinted at potential U.S. actions against Tether as something to keep an eye on.

Hes worried this could be the next big shake-up in crypto, kinda like the FTX collapse talk about a plot twist!

With the SEC branded as a bully by Garlinghouse for targeting what he perceives as weaker entities, Ripples upcoming stablecoin might face a tough road ahead. This scrutiny comes amid broader regulatory concerns, especially with Tethers history of fines and the U.S. Treasury eyeing stablecoins for bypassing sanctions.

Switching gears to Bitcoin the granddaddy of crypto. After hitting a billion transactions (huge, right?), Bitcoin is navigating some interesting waters this May. The price has been a roller coaster, with dips and rebounds that have everyone guessing.

The buzz is that despite regulatory shadows and market jitters, Bitcoin might just be gearing up for a rebound. Why? Well, its showing resilience against a backdrop of regulatory fears and market withdrawals, especially from crypto investment products like ETFs.

This resilience could signal a potential rise, making it a prime time for investors to HODL and possibly reap the rewards of a market uptick.

Now, let me introduce you to the new kid on the block, Borroe Finance. After a killer presale that snagged over $4.5 million, Borroe Finance is the name on every crypto enthusiasts lips. With the $ROE token set to launch at a sweet $0.025, were talking about a potential surge that could redefine the altcoin market.

So, what makes Borroe Finance stand out? This platform isnt just another altcoin; its a powerhouse that merges AI with Blockchain technology, enhanced by Oracles. This setup is shaking up the CrossFi space, bridging the gap between decentralized and traditional finance in ways weve never seen before.

As we step into May, Borroe Finance is on the brink of something monumental. Experts are eyeing the $ROE token for a massive 500% jump shortly after its launch. In a market filled with uncertainty, Borroe Finance stands as a beacon of potential and innovation.

To learn more about this project, visit the Borroe Finance presale website or join the community via Twitter | Telegram

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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SEC targets Ripple's stablecoin; What to expect from Bitcoin & this new AI altcoin in May? - crypto.news

Is the altcoin market set for an ‘explosive rally?’ Analysts eye these 3 indicators – Cointelegraph

The altcoin market is currently at the disbelief stage, which, if history repeats, could soon move on to an explosive rally, according to crypto traders closely watching three tech indicators for confirmation.

Altcoins market cap is currently at the disbelief stage, historically followed by an explosive rally, crypto analyst Mikybull Crypto told their 66,600 X followers in a May 11 post.

The disbelief stage is when investors remain skeptical despite positive market indications, as reflected by a significant drop of 24 index points on the Crypto Fear and Greed Index over the past 30 days. The Greed score is currently 56.

This comes alongside the total altcoin market cap which excludes the top 10 cryptocurrencies declining 17.55% over the past 30 days to $264.9 billion, according to TradingView data.

Although, it is still holding above the $250 billion support level and is positioning itself for a future move to the upside, pseudonymous crypto trader Rekt Capital told their 465,300 X followers in a May 12 post.

Traders are keeping an eye on three indicators across the broader crypto market the exponential moving average (EMA) over 20 days, the stochastic relative strength index (RSI) and Bitcoin dominance to support their predictions about the direction of the altcoin market.

The EMA is the average price across the period, with greater weight on more recent periods. If the total crypto market cap retests the EMA20 while also crossing bullish on the which measures the relative strength and weakness of the stochastic RSI indicator itself it could lead to rally time, pseudonymous crypto trader Titan of Crypto stated in a May 11 post.

Related: Altcoins will bottom in early summer before bull run Analyst

The Bitcoin dominance chart measuring Bitcoins market share relative to the overall crypto market is one of the oldest yet most referenced indicators.It can provide traders with the overall investor sentiment and risk appetite in the market.

At the time of publication, Bitcoins dominance is 54.7%, down 0.56% over the past week. A further fall from here can start an altseason, pseudonymous technical analyst Yoddha claimed in a May 11 post on X.

Magazine: Buy altcoins now, but sell before mid-2025: Charles Edwards, X Hall of Flame

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Is the altcoin market set for an 'explosive rally?' Analysts eye these 3 indicators - Cointelegraph

Altcoins will bottom in early summer before bull run Analyst – Cointelegraph

Bitcoinaside, the cryptocurrency market could find its local bottom in June, marking the start of the next altcoin bull cycle, according to market analysts.

Based on historical chart patterns, altcoins could be set to find their local price bottom around the beginning of June, according to popular crypto analyst Rekt Capital, who wrote in a May 8 X post:

The altcoin market took a beating in the past month. The market cap of altcoins, excluding the 10 largest cryptocurrencies, fell over 21% during the previous month to $265 billion.

Despite the monthly slump, the altcoin market cap is still up over 24% year-to-date (YTD) and over 167% during the past year.

Altcoin sentiment is historically correlated with the Bitcoin (BTC)price. Altcoins could find their local bottom around June, as market sentiment and the Bitcoin price remain subdued by decreasing inflows from United States spot Bitcoin exchange-traded funds (ETFs), according to Alex Onufriychuk, blockchain adviser and coach at Qubic Labs Accelerator. He told Cointelegraph:

Related: Did XRP price just bottom against Bitcoin?

Despite seeing a potential local bottom, an altcoin bull run would first require Bitcoin price to break out to the upside, according to Aurelie Barthere, principal research analyst at Nansen, who told Cointelegraph:

BTC price has been posting lower highs since mid-March. However, many analysts argue that this is a healthy period of consolidation after the halving. Moreover, the charts hint at a multimonth bull flagtaking shape for new all-time highs later in 2024.

Since altcoin sentiment is strongly related to Bitcoin price, finding a local bottom wouldnt necessarily translate into an altcoin rally, wrote Qubic Labs Onufriychuk:

On the monthly chart, 10 out of 12 moving averages (MA) are flashing a buy signal for the top altcoins, such as Ether (ETH), which has struggled. Moving average indicators are commonly used in technical analysis to determine the average price of the underlying asset in relation to a set period.

Altcoin prices could also rise due to theM2 money supply, which turned positive year-over-year for the first time since November 2023, signaling that investors could soon start looking for hedges against inflation or alternative investments.

The M2 money supply estimates all cash and short-term bank deposits across the United States.

As the money supply in the worlds largest economy increases, part of the new supply could find its way into altcoins and memecoins, contributing to the beginning of the altszn.

Related: Bitcoin distribution danger zone over, analysts say

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Altcoins will bottom in early summer before bull run Analyst - Cointelegraph