Outlook for the outbreak of the altcoin market in June 2024
1. Unique bull market pattern
This round of bull market is the most cautious in history. Amid price fluctuations, long-term holders have regrouped Bitcoin. Spot Bitcoin ETF funds have actively flowed in, and market demand has rebounded.
2. Cycle analysis from the perspective of supply and demand
The three bull markets from 2015 to 2023 were all triggered by rising STH demand, but the 2023 bull market was bred in low liquidity. Data shows that the proportion of STH undertakings in the first two bull markets increased, and the estimated demand for undertakings in 2023 reached 2.32 million BTC.
3. Market changes and strategic responses
The market is complex and changeable, affected by multiple factors such as macroeconomics, Web3, populism and the AI era.
Response strategies:
Steady type: Fixed investment in BTC, seek victory in stability. Aggressive type: Follow the strong market track, and use on-chain data to guide sector rotation arbitrage.
4. On-chain data insights
Since May 24, whales and institutions have bought 32.52M ETH ecological tokens in total, and recently increased by 4.12M.
5. Potential altcoin recommendations
Altcoins expected to rise sharply in June: DOGE, RNDR, ONDO, BONK, SOL
ONDO: known as the Bitcoin in the altcoin
RNDR: AI field support, price is expected to break through.
DOGE: Still maintains the leading meme coin status in market value
BONK: The meme coin effect is significant.
SOL: Institutional investment enthusiasm is high, and price expectations are expected to rise.
Investment is risky, enter the market with caution.
At present, the bull market is surging, and we have the opportunity to share passwords every day.
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