Altcoins are showing promising signs for the first time since the Q4 rally.
To begin with, many altcoins did not hit new lows even when Bitcoin dropped below $80K. Additionally, most have reached levels of seller exhaustion, indicating potential upward momentum.
Bitcoin dominance appears to be in a slight downtrend, which is a positive signal for altcoins. Furthermore, several bullish indicators are emerging:
- Expansion of global money supply
- A slowdown in the Federal Reserve's quantitative tightening (QT)
- Growing institutional interest in altcoins
The next few months are likely to be bullish for altcoins.
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