Analysts have declared the start of altcoin season, indicating a deviation from normal cyclical low points,
In the last 24 hours, Bitcoin has stabilized near the $105,000 level while Ethereum is also hovering around $2,500,
Altcoins like Solana and Dogecoin have not yet shown initial positive trends,
however, a well-known crypto analyst “Prometheus” has indicated in his analysis on social media platform X that altcoin investors are close to making unexpected profits due to the market cycle,
“Prometheus”
has made its prediction based on the $TOTAL3ESBTC chart which measures the total altcoin market cap against Bitcoin, excluding stablecoins,
In this chart, a clear deviation from the cyclical low range has been observed in previous market cycles when Bitcoin was entering a new price discovery phase,
This deviation aligns with periods when Bitcoin was absorbing market liquidity and leaving the rest of the market behind,
Afterward, there was a rapid return of investment into the altcoin market, referred to as the “money printer,” which caused altcoin prices to rise rapidly; a similar deviation is also visible in the current cycle,
Bitcoin's market dominance is increasing and prices are rising, but a deviation below the cyclical low range is occurring again,
According to the analyst, Bitcoin is still absorbing liquidity but soon the “money printer” phase will begin, indicating a breakout led by an altcoin, especially when Bitcoin cools down a bit,
The important thing is that many traders have the misconception that altcoins will rise alongside Bitcoin's upward trend, but this is not necessarily the case in this cycle,
According to the analyst, the signal for altcoin season generally comes after a strong phase in Bitcoin's price when Bitcoin shows temporary resistance or decline,
During this time, liquidity moves from Bitcoin to altcoins, causing short but intense surges,
The analyst further stated that “those who have invested in altcoins will soon earn profits that are unimaginable, however, only a few percent will succeed in realizing this profit,”
As of now, the price of Bitcoin is approximately $104,730 and the market dominance is 64.0%, which is an increase of 1.18% over the last 24 hours,
The total crypto market cap, excluding Bitcoin, is approximately $1.13 trillion ....
BOTSLASH: Crypto Urdu and English News, Education and Analysis
BOTSLAH: Crypto Urdu News (News), Education, and Analysis,
This is news, this is an analysis,
The post does not constitute financial advice; if you want to invest in the crypto market, do thorough research first, then make purchases, 😊
شـــاھͩــͥــͪــͣــͪـــ᩺ــد سͣــᷠــⷶــᷚــͬــͣــ᩺ـرگانہ