Recent developments in the derivatives market now threaten the long-term bullish potential of the altcoin market based on historical 0 recent gains and market indicators that signal the altseason may soon begin, investors could be looking at a rather short-lived 1 the last day, the crypto market has witnessed a strong bullish momentum with the total market cap reclaiming the $4 trillion 2 these high levels of positivity, Bitcoin has gained 1.50%. However, other cryptocurrencies such as Ethereum (5.41%), XRP (2.99%), and Solana (5.62%) have produced larger gains, creating a miniature semblance of an 3 Reading: Crypto Analyst: Altcoin Charts Flash Rare 2021-Style Breakout Setup Altcoins Open Interest Surge Points To Incoming Market Peak – Analyst Notably, these altcoins’ outperformances have drawn significant interest from derivative traders, leading to a corresponding rise in open interest — the total number of outstanding derivative contracts, e.
g, futures or options, that have not yet been settled, i. e., closed, exercised, or 4 particular, renowned crypto analyst Ted Pillows states that general altcoin open interest (excluding Ethereum) is about to surpass Bitcoin open interest for the first time in nine 5 this development suggests an emerging altseason as capital and traders’ attention shift to the altcoin market, Pillows has highlighted a potential cause for 6 crypto market expert shares that historical data from Coinalyze shows that the last two times altcoin open interest surged above that of Bitcoin were in March 2024 and December 7 each event, many altcoins popularly formed a local market peak in the following two weeks.
Therefore, while the present market fundamentals indicate traders are on the brink of an altseason, Pillows’ revelation indicates it would be a brief parabolic market. However, the peculiarity of the present market cycle, which is largely driven by institutional demand, suggests that any correction could be shallower than in past cycles, with capital rotating more sustainably between Bitcoin and major altcoins. Notably, several altcoin spot ETFs are also expected to be approved for trading in October, which could provide a structural inflow of liquidity, extend the rally beyond a short-lived 8 Reading: Bitcoin Crawls Up On Weak Supply: 30D Momentum Reveals It Lacks Real Demand Biggest Altseason Ever?
In other news, Dutch crypto analyst Michaël Van De Poppe has admonished investors to prepare for the biggest altcoin run ever. Interestingly, Van de Poppe references an ongoing consolidation in the Gold market, which is expected to drive down interest 9 typical fashion, lower interest rates would allow investors to divert capital to high-risk assets such as cryptocurrencies, which Van De Poppe explains would contribute to fuelling a mega altcoin 10 press time, the total altcoin market is valued at $1.71 trillion, representing around 42.25% of the total crypto market 11 image from InvestX, chart from Tradingview
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