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Bitcoin’s remarkable ascent past $108,000 on June 26, coupled with sustained momentum above $106,000, has reinvigorated market dynamics, placing altcoins squarely in the spotlight. Esteemed crypto analyst Kevin Svenson identifies parallels to the late-2024 scenario, when a Bitcoin peak catalyzed a dramatic 140% increase across altcoin valuations. Svenson’s insights strongly suggest the upcoming altseason may see select tokens greatly outshine their peers.

Altcoin Landscape in Focus

Investors are currently monitoring several prominent altcoins, each positioned uniquely within the crypto market:

Zilliqa (ZIL): Despite a recent 20% downturn, anticipation around the Zilliqa 2.0 migration from Proof-of-Work (PoW) to Proof-of-Stake (PoS) could ignite substantial gains.

Celo (CELO): Trading close to $0.25, CELO eyes a recovery driven by the imminent Isthmus hard fork upgrade, promising enhanced network efficiency.

Cardano (ADA): Holding firm around $0.54, Cardano’s forthcoming Reeve upgrade aims to propel its price higher by improving scalability and interoperability.

Hyperliquid (HYPE) & WhiteBit Coin (WBT): Both tokens show potential for breakout performance, bolstered by bullish market sentiment and strategic developments.

Ethereum (ETH) & Arbitrum: ETH nears $2,800, drawing strength from institutional support, while Arbitrum crosses a remarkable $12 billion in Total Value Locked (TVL), emphasizing its pivotal role in layer-two scaling solutions.

Svenson highlights the critical historical trend of capital flowing from Bitcoin to altcoins as a predictor of significant market movements.