Another 'alt season' has ended — dominance has reversed and is creeping up again. This was the third bounce of altcoins in the last year, with the difference being that this time the assets were 'squashed' to such an extent that even within the framework of the bear market of 2022, they were more expensive. A number of coins updated their lows, which once again proves that interest in altcoins is fading. To those who didn't expect Bitcoin at $70,000 and accumulated positions when $BTC was trading below $80,000 — congratulations. To the rest, my condolences. Including myself, as I still hold a number of coins in my portfolio because my expectations from December 2024 were higher.
At the moment, I expect a correction for Bitcoin in the area of 92,000 — to cool the enthusiasm of those who have believed again. From there, it would be logical to aim for a new ATH.
At the same time, I consider the option of a drop through the liquidity fence around 106,000. That is, my expectations: a slight rise from the current levels, a fall to the area of 92,000, and from there a new rise.
But it should be understood that this won't save altcoins if dominance returns to 65% and especially if it goes even higher, which cannot be excluded.
You can't dream about the Xs on $ETH for now — unless you managed to buy it for $1380.
In essence, there are only 2-3 weeks left for growth: summer is not the most 'fishy' season for the market. Positive news has run its course, they are in no hurry to lower rates, so unfortunately, there are no prerequisites for any outstanding movements.
By the way, at this same time last year, Ethereum was trading around $4000. Now, such results are not to be expected: even Pectra didn't save the situation (although the update is indeed significant). Of course, the asset showed some growth, but it is still very far from December values and even further from the ATH.
It seems that only one event could significantly contribute to the growth of Ethereum: the approval of staking in the ETF, but they have been talking about this for a long time, and no one is in a hurry to decide.
Another 'working' option is a rise in Bitcoin by a couple of tens of thousands, but this scenario currently looks even less likely than the approval of staking. So, those who were waiting for Ethereum at 5000 (6,8, continue) will have to, by all indications, hold their crypto assets at least until autumn.
