Exciting Times Ahead for Altcoin Holders
Recent market movements have caused stress for altcoin holders over the past five weeks. However, major shifts and turning points often bring both pain and patience, leading many to give up. It’s important to remember that altcoins can only gain momentum when Bitcoin dominance decreases. The discussion around Ethereum ETFs is heating up, with approvals and trading expected in the first week of July.
The Bitcoin dominance chart, shared by Derek on X, indicates a situation similar to the peaks seen in 2017 and 2021, suggesting the start of an altcoin bull market. This critical moment marks a significant shift between sellers and buyers.
The upcoming Ethereum ETF S-1 is anticipated to be a game changer, attracting attention from Bitcoin whales. The altcoin market is likely to react in anticipation ahead of the Ethereum ETF S-1 launch in mid-July. While volatility is expected during this period, maintaining a calm and patient approach is crucial for navigating through it.
Crypto Crusader predicts a highly bullish month for the crypto market in July. If the ETF is approved, altcoin holders should prepare for the impact. Ethereum is projected to lead the market, reducing Bitcoin’s dominance and boosting ERC20 projects. This could potentially trigger a rapid altseason, with Bitcoin possibly reaching $80,000 to $100,000 or even more by the end of the summer.
According to Crypto Crusader, “If the ETF approval happens in the first week, altcoin holders need to buckle up. Ethereum is poised to take the lead and steal the spotlight from Bitcoin.”
Analyst Moustache, as noted on X, highlighted that the 3W Gaussian-Channel has transitioned from red to green, indicating a buy signal akin to the trend seen in 2020. With prices holding above the EMA 10, this could potentially pave the way for one of the biggest altcoin seasons.
