The cryptocurrency market has reached a significant turning point! On May 9, the altcoin market may have officially started:
Technical breakthrough at a key node: The Altcoin Composite Index has recently successfully broken through an important resistance level.
Looking back at history, this index completed similar breakthroughs in October 2023 and November 2024, both triggering a collective surge in altcoins, while the market share of Bitcoin significantly decreased.
It is worth noting that this breakthrough occurred earlier than the previous two rounds before Bitcoin reached new highs, suggesting a more aggressive market sentiment.
Oversold rebound poised to take off: Previously, altcoins generally experienced deep corrections, with some coins having declines of up to 90%, and market panic sentiment has been released to the extreme.
According to cyclical patterns, extreme market conditions are often followed by strong corrective rallies.
Hot sectors lead the explosion: From the market dynamics, SUI ecological projects, AI concept coins, and MEME-type tokens are expected to become the leading forces in the next 2-3 months, driving a comprehensive explosion in the altcoin market.
