ETH rose 20% in a single day, V dog turned back to V god overnight, altcoins generally rose, is the crazy copycat season coming up? Don't miss these 4 points!
Note! ETH successfully reversed BTC, and the exchange rate skyrocketed by 15%. Historically, when the ETH/BTC exchange rate rises, funds flow from BTC to other cryptocurrencies, driving an overall market boom.
1⃣ Analyst Michaël van de Poppe: The current altcoin market capitalization (ALTCAP) is stabilizing at key support levels and could see a breakout. Altcoin ETFs (such as Litecoin, Solana, and Ripple) that may be approved in 25 years will further inject capital into the altcoin market.
2⃣ Analyst Benjamin Cowen: BTC dominance may need to fall back below 54% to trigger a significant rotation of funds to altcoins.
Note: BCT has a market cap of 64.7%, the highest level in 21 years. This means that the market funds are still mainly concentrated in BTC, and if it fails to decline, it will limit the performance space of the altcoin.
3⃣ Raoul Pal, former Goldman Sachs executive: BTC's dominance has peaked today. If this judgment is true, the copycat season is coming.
4⃣K33's David Zimmerman: Times have changed. The altcoin market faced $4.3 billion in token unlocks in May, $2.8 billion in June, and $3.2 billion in July. These unlocks require a significant amount of new liquidity absorption. In the absence of any significant surge in demand or new retail inflows, there will be downward pressure. While some altcoins may outperform, the window of opportunity is limited and increasingly short-lived.
What do you think?
#ETH #以太坊 #山寨 #Alicoin
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