Altcoin Season Expected Soon as Traders Shift Focus, Says Santiment
Last week, the crypto market increased by over 10%, with altcoins outperforming Bitcoin which gained 7.6%. A report from Santiment indicates a shift of capital towards lower market cap coins.
- Increased social media buzz around "altcoins" and "altseason."
- Traders suggest potential for a significant price rally similar to past trends in 2016 and 2020.
- Major altcoins like Cardano, XRP, and Dogecoin saw gains of approximately 10%.
- The Crypto Fear & Greed Index has entered the "Greed" zone, signaling renewed bullish sentiment.
- Total market cap excluding BTC has reached $1.05 trillion.
- Strong resistance broken at $851B, indicating further upside potential.
Analysts expect possible targets for altcoins:
Crypto total market cap excluding BTC | Source: TradingView