FOMO

strong bull

Trillion

<ul> 
 <li aria-level="1">Bitcoin Dominance Index resistance at 58% suggests altcoins may soon gain momentum and market share.</li> 
 <li aria-level="1">Henrik Zeberg predicts altcoin market cap could reach $3 trillion, driven by strong bull signals and momentum.</li> 
</ul> 
The cryptomarket is on the cusp of a shift as altcoins show signs of challenging Bitcoin’s dominance. Recent market trends suggest that an altcoin season may be closer than previously anticipated, with increasing activity hinting at major potential shifts. 
In the latest market developments, <a href="https://www.ethnews.com/bitcoin-rises-as-a-modern-store-of-value-rivaling-centuries-old-gold/">Bitcoin has shown resilience</a> with a good recovery, moving from $52,500 to $65,000 in September. 
<figure id="attachment_96118" aria-describedby="caption-attachment-96118" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-96118 size-full" title="BTCUSD_2024-09-27_10-52-59" src="https://www.ethnews.com/wp-content/uploads/2024/09/BTCUSD_2024-09-27_10-52-59.png" alt="BTCUSD_2024-09-27_10-52-59" width="1443" height="857">
 <figcaption id="caption-attachment-96118" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
This recovery has also positively impacted the broader altcoin market, propelling many altcoins to achieve substantial gains, particularly in the artificial intelligence and memecoin segments.&nbsp; 
<figure id="attachment_96113" aria-describedby="caption-attachment-96113" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-96113" src="https://www.ethnews.com/wp-content/uploads/2024/09/Screenshot-2024-09-27-103459.png" alt="" width="1843" height="810">
 <figcaption id="caption-attachment-96113" class="wp-caption-text">
 Source: Blockchain Center
 </figcaption>
</figure> 
Despite these gains, the <a href="https://www.ethnews.com/etoro-u-s-to-delist-altcoins-following-sec-deal-only-bitcoin-ether-and-bitcoin-cash-remain/">Altcoin</a> Season Index, a measure of altcoins’ performance against Bitcoin, remains at a moderate level of 37, suggesting that the full altcoin season has not yet commenced. 
<h2 id="b-indicators-suggest-a-positive-trajectory-for-altcoins-b">Indicators suggest a positive trajectory for Altcoins</h2> 
The Bitcoin Dominance Index (BTC.D), a metric that illustrates Bitcoin’s market capitalization relative to the total crypto market cap, encountered resistance around 58%. A decrease in Bitcoin’s dominance typically provides a window for altcoins to increase in value and market share. 
<figure id="attachment_96123" aria-describedby="caption-attachment-96123" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-96123 size-full" title="BTC.D_2024-09-27_10-54-47" src="https://www.ethnews.com/wp-content/uploads/2024/09/BTC.D_2024-09-27_10-54-47.png" alt="BTC.D_2024-09-27_10-54-47" width="1443" height="857">
 <figcaption id="caption-attachment-96123" class="wp-caption-text">
 Source: Market Cap BTC Dominance, % – Tradingview
 </figcaption>
</figure> 
Further bolstering this outlook is the altcoin market cap (excluding Bitcoin and Ethereum), which, according to Henrik Zeberg, Head Macro Economist at Swissblock, is positioned for explosive growth, potentially reaching a $3 trillion market cap. 
<figure id="attachment_96127" aria-describedby="caption-attachment-96127" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-96127 size-full" src="https://www.ethnews.com/wp-content/uploads/2024/09/Altcoin-season-2048x1132-1.jpeg" alt="" width="2048" height="1132">
 <figcaption id="caption-attachment-96127" class="wp-caption-text">
 Source: Swissblock
 </figcaption>
</figure> 
Zeberg notes: 
<blockquote>
 “Bull flag and momentum indicators suggest that the altcoin market could head towards a $3 trillion market capitalization.”
</blockquote> 
Supporting this view, Presto Research highlighted a surge in ETH gas prices, which often correlates with increased activity on the Ethereum network, suggesting a broader altcoin rally might be on the horizon. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Daily Hot Take 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Gas Price Rises: Alt Season On The Way? <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> The Sep 20 Daily highlighted the potential for a falling Fed funds rate to trigger a TVL recovery, driven by relatively more attractive on-chain yields. While it’s too early to say this is happening, signs are… <a href="https://t.co/afNoASqZzR">pic.twitter.com/afNoASqZzR</a> 
 — Presto Research (@PrestoResearch) <a href="https://twitter.com/PrestoResearch/status/1839113019634352351?ref_src=twsrc%5Etfw">September 26, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 The firm observed that <a href="https://www.ethnews.com/ethereum-trading-volume-soars-79-what-does-this-mean-for-prices/">ETH has outperformed BTC</a> since the Federal Reserve’s policy pivot, further signaling robustness in the altcoin sector. 
<figure id="attachment_96135" aria-describedby="caption-attachment-96135" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-96135" src="https://www.ethnews.com/wp-content/uploads/2024/09/ETHBTC_2024-09-27_10-57-34.png" alt="ETHBTC_2024-09-27_10-57-34" width="1443" height="857">
 <figcaption id="caption-attachment-96135" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The ETHBTC ratio, a key indicator of Ethereum’s performance relative to Bitcoin, has recovered nearly 10%, moving from 0.038 to 0.042 after recent Fed rate cuts. 
This signifies Ethereum’s increasing value compared to Bitcoin, which often serves as a health barometer for the altcoin market. 
Adding to the momentum, Mark Thielsen of 10X Research pointed out a significant trend shift, with Korean and global traders moving from Bitcoin to altcoins, energized by the breakout of Bitcoin past the $65,000 mark. 
<blockquote>
 “There could be a major surge on the horizon, which would create even more FOMO in the cryptocurrency space,” Thielen added.
</blockquote> 
This breakout has reignited FOMO (Fear of Missing Out) in the altcoin space, suggesting a potential surge in investor interest and market activity. 
<h3 id="b-the-current-market-conditions-appear-ripe-for-an-altcoin-season-b">The current market conditions appear ripe for an altcoin season</h3> 
As Bitcoin continues to test new highs, altcoins are positioned to capitalize on this momentum, possibly leading to significant market shifts and investment opportunities in the coming months. 
The post <a href="https://www.ethnews.com/are-you-ready-for-the-altcoin-explosion-analysts-predict-a-massive-3-trillion-market-cap-surge/">Are You Ready for the Altcoin Explosion? Analysts Predict a Massive $3 Trillion Market Cap Surge!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Are You Ready for the Altcoin Explosion? Analysts Predict a Massive $3 Trillion Market Cap Surge!

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