Crypto market analysts have been scouring the charts looking for signals of an altcoin breakout. However, they have yet to make a big move and usually follow in the wake of a Bitcoin surge.<\/p>\n
On Sept. 24, Glassnode co-founder \u2018Negentropic\u2019 observed the Bitcoin\/altcoin cycle noting that alts have followed the bullish momentum of BTC.<\/p>\n
\u201cIt seems that we are on the verge of an altcoin season,\u201d he said before adding,<\/p>\n
\u201cWe are bound to experience it intensely once BTC breaks its ATH and enters uncharted territory.\u201d<\/p>\n
Bitcoin is currently around 14.5% down from its all-time high, whereas most of the altcoins are more than 50% away from their peaks.<\/p>\n
#Altcoins<\/a> have followed the bullish momentum of #Bitcoin<\/a><\/p>\n It seems that we are on the verge of an Altcoin Season. We are bound to experience it intensely once $BTC<\/a> breaks its ATH and enters uncharted territory. #Altseason<\/a> #Altseason2024<\/a> pic.twitter.com\/7QFoR6Ow6x<\/a><\/p>\n \u2014 (@Negentropic_) September 23, 2024<\/a><\/p>\n\n The analyst added that it will be the classic rotation cycle of BTC first, then Ethereum will pump, followed by large-cap\u00a0altcoins,<\/a> then into the smaller-cap tokens.<\/p>\n \u201cSince May, we have seen Bitcoin push up three times without any sign of an altcoin season,\u201d he observed before adding:<\/p>\n \u201cNow we saw the Altcoin Cycle indicator spike to near-50 before Bitcoin showed strength. We have a feeling the next run-up will happen together.\u201d<\/p>\n Additionally, Bitcoin has had its best-ever September, traditionally a bearish month, in terms of gains<\/a>, with almost 9% so far.<\/p>\n On Sept. 23, Web3 developer \u2018Tracer\u2019 predicted<\/a> that \u201cthe biggest altseason will start in 9 days.\u201d They added that this has happened twice before, in 2017 and 2021.\u00a0Meanwhile, \u2018Elja\u2019 told his 686,000 X followers that the \u201cbiggest altseason will begin in Q4,\u201d<\/p>\n The Biggest Altseason Will Begin in Q4<\/p>\n It\u2019s all in the charts pic.twitter.com\/rLuMzrvLx4<\/a><\/p>\n \u2014 Elja (@Eljaboom) September 22, 2024<\/a><\/p>\n\n Another influential factor on altseason is Bitcoin dominance which is currently at a three-and-a-half-year high of 57.5%, according<\/a> to Tradingview.\u00a0Analysts have suggested that BTC dominance is topping out and could be due for a retreat below 50%, which would be good news for altcoins.<\/p>\n Crypto markets have dipped 1.6% on the day with total cap falling to $2.31 trillion at the time of writing.\u00a0However, a handful of altcoins are still outperforming at the moment. These include Near Protocol (NEAR) which has cranked 14.5% over the past 24 hours to reach $5.21.<\/p>\n AI token TAO (Bittensor) is still flying with another 5% on the day, making its weekly gains a whopping 84%<\/a>.<\/p>\n Bitcoin layer-2 project Stacks (STX) is also performing well today with a 7% gain. Arweave (AR) and Celestia (TIA) are also pumping 16% and 20%, respectively.<\/p>\n The post Analysts Renew Calls for \u2018Biggest Altseason\u2019 Eyeing Crypto Market Breakout<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Crypto market analysts have been scouring the charts looking for signals of an altcoin breakout. However, they have yet to make a big move and usually follow in the wake of a Bitcoin surge. On Sept. 24, Glassnode co-founder \u2018Negentropic\u2019 observed the Bitcoin\/altcoin cycle noting that alts have followed the bullish momentum of BTC. \u201cIt […]<\/p>\n","protected":false},"author":0,"featured_media":8998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8997"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8997"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8998"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Altcoin Season Around The Corner?<\/h2>\n
Today\u2019s Top Altcoin Performers<\/h2>\n