Altcoins
Altcoins Are Ready to Steal Bitcoin’s Spotlight, Here’s Why
Recently, altcoin holders have been facing significant stress due to market movements over the past five weeks. Major changes and turning points often involve extreme pain and patience, causing many people to give up. But we must remember that altcoins can only gain momentum when Bitcoin’s dominance wanes. Discussions over the Ethereum ETF 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 mirroring the peaks of 2017 and 2021, signaling the start of an altcoin bull market. At this critical juncture, there is a major shift between sellers and buyers.
The upcoming Ethereum ETF S-1 is expected to be a game changer, attracting the attention of Bitcoin whales. I believe the altcoin market will react in anticipation ahead of the launch of the Ethereum ETF S-1 in mid-July. There will be volatility during this time, but remaining calm and patient is key to dealing with it.
Crypto Crusader predicts that July will be a very bullish month for the crypto market. If the ETF is approved, altcoin holders should prepare for the impact. Ethereum is expected to dominate the market, reducing Bitcoin’s dominance and boosting ERC20 projects. This could spark a new fast season and Bitcoin could reach $80,000-$100,000 or more by the end of summer.
He wrote: “If we see ETF approval happen in the first week, altcoin holders will need to buckle down. Ethereum will begin to dominate the market and steal the spotlight from Bitcoin.
Analyst mustache noted on altcoins.