The Altcoin market continues to be under hard sales pressure. Investors are cautious because of the delaying the US Federal Bank’s interest rate reduction decision and the falling dollar liquidity. However, some analysts suggest that the Great Altseason can start very soon. The direction of the market may become clear in the next few weeks.
Will there be a decrease in subcoins?
Ethereum (ETH), XRP, Solana (left), Dogecoin (Doge) and Cardano (Ada) fell by 3-4 %in the last 24 hours. Bitcoin’s domination increases, while panic sales in the Altcoin market continues. Although this leads to fear among investors, some experts think that it is temporary. In the past, there were similar situations in the crypto money markets, and then there were great rise.
According to the 10x Research report, the weakness in Bitcoin price can even lower the subcoins. In addition, the US Federal Reserve’s postponement of interest rate cuts and the low liquidity in the market reduces investors’ interest in crypto. Technical indicators indicate that there may be more decreases in subcoins. However, some investors think that these levels offer a long -term purchase opportunity.
Can Bitcoin dominance increase to 71%?
Famous analyst Rek Capital predicts that Bitcoin dominance can reach 71 %. Historically, when Bitcoin dominance reached this level, a great rise in the Altcoins had begun. If this scenario is repeated, the expected rally for the subcoins may be very close.
However, the rise of Bitcoin to this level may cause subcoins to drop by 5-10 %in the short term. According to the analyst, when Bitcoin dominance reaches the peak, the real rally may begin for the subcoins. Bitcoin is currently traded for $ 97,320 and investors carefully follow this process. In the coming days, the BTC price movement will be one of the most important factors to determine the direction of the Altcoin market.
Analysts are still hopeful for the Altcoin season!
Despite recent harsh decreases, market analysts are waiting for a major movement in the Altcoin market in the long term. ‘Titan of Crypto’ analyst said that a big ‘cup and handle’ formation in the Altcoin market was formed. This is known as an important technical model that triggered strong rise in the past.
This technical model may indicate a large rally. Analyst, “Most people are not prepared for the next movement,” he stressed that the Altcoin season may be closer than we thought. If this estimate occurs, there may be great opportunities for investors. However, it remains unclear when the market will complete direction. Crypto investors should closely follow Bitcoin dominance and Altcoin price movements.
