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<p>The post <a href="https://coinpedia.org/news/is-altcoin-season-on-the-horizon-heres-what-analyst-weighs-in/">Not Bitcoin! Altcoins Could Make You RICH as Ethereum ETF Boosts Market!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Altcoins (TOTAL3) market cap is still 70% below their previous highs, while Bitcoin is near its all-time high (ATH). Market experts suggest that the stage is set for a major rally in altcoins, supported by positive developments such as the approval of the <a href="https://coinpedia.org/news/eth-etf-approval-expected-soon-could-steal-15-of-bitcoins-etf-investment/">Spot Ethereum ETF</a> by the US Securities and Exchange Commission (SEC) on 4th July.&nbsp;</p> 
<p>Additionally, new ETF applications for Solana by VanEck and 21Shares are positively impacting market sentiment, shifting interest from Bitcoin to altcoins.</p> 
<p>Is this the spark that ignites the altcoin fire? Dive deeper to find out!</p> 
<h2 class="wp-block-heading" id="h-bitcoin-and-ethereum-performance">Bitcoin and Ethereum Performance</h2> 
<p>The month of June ended on a positive note with Bitcoin’s price climbing back to $63.7k from an initial drop to $58.56k. Meanwhile, Ethereum (ETH) has shown strong performance against Bitcoin (BTC).</p> 
<p>According to market analysts, the last time ETH broke through its resistance against BTC, it triggered a seven-month-long altcoin season from March 2021 to November 2021. Despite fluctuations during that period, the overall rise in altcoin values was remarkable.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Dominance Monthly Chart <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Also in this case we can see how <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>'s dominance is testing the resistance line (which has lasted since March 2017) and in fact every time it hits it it always comes back below<br><br>We can see how every time this happens the recovery of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and… <a href="https://t.co/YxE9RAT5B0">pic.twitter.com/YxE9RAT5B0</a></p>— PaoloG.mtrg 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ee-1f1f9.png" alt="🇮🇹" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Paul250889) <a href="https://twitter.com/Paul250889/status/1807703057821503928?ref_src=twsrc%5Etfw">July 1, 2024</a>
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<p><strong>Is this the consolidation phase? </strong></p> 
<p><a href="https://coinpedia.org/news/raoul-pal-predicts-explosive-altcoin-rally-here-are-his-top-picks/">Market analysts suggest</a> that Bitcoin might be entering a consolidation phase following its recent parabolic rise. This could set the stage for Ethereum and other altcoins to experience exponential growth.&nbsp;</p> 
<p>Ethereum, as the leading altcoin, seems poised to outperform Bitcoin significantly, especially with the possible launch of Ethereum ETFs trading by July 4.</p> 
<h2 class="wp-block-heading" id="h-waning-bitcoin-dominance">Waning Bitcoin Dominance</h2> 
<p>The BTC dominance (BTC.D) <a href="https://in.tradingview.com/symbols/BTC.D/">monthly chart shows</a> Bitcoin testing its long-standing resistance line, which has been held since March 2017. Historically, every time BTC dominance hits this resistance and falls back, Ethereum and other altcoins have shown substantial recovery.&nbsp;</p> 
<p>A decline in BTC dominance indicates that altcoins are gaining value faster than Bitcoin, often signaling the start of an altcoin season.</p> 
<p><strong>Feeling bullish on altcoins, or are you sticking with Bitcoin? Let’s hear your investment strategies!</strong></p>

Not Bitcoin! Altcoins Could Make You RICH as Ethereum ETF Boosts Market!

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