Altcoins has struggled to follow the current market cycle, even if the Bitcoin price (BTC) has repeatedly reached new heights of all time. This was reflected in the growing domination of Bitcoin, highlighting its outperformance on most altcoins.
However, with BTC now consolidating just below $ 111,000 after a strong week, merchants are starting to turn into major altcoins like XRP, Solana (Sol) and Cardano (ADA), causing a bullish feeling for a potential altcoin season.
Are we still? Let’s find out!
Altcoins back in action
The recent increase in Bitcoin, powered by institutional interest and regulatory clarity, is starting to lose steam as profits from merchants. This opened the door to high capitalization altcoins to shine. Solana and ADA have increased up to 4% in the past 24 hours, while XRP has modestly won less than 1.5%. Ether and BNB also checked above.
According to Ryan Lee, Bitget Research chief analyst, we could be on the edge of a wider Altcoin rally if Bitcoin domination decreases. He thinks that XRP and Solana are in the leading position to conduct this decision. Lee indicates that improving the legal position of XRP and a model of bullish graphic known as the golden cross, which could lead the token to the range from $ 3 to $ 8.
Techniques and trends of the Haussier case
Optimism comes at the rear of the decision last month to stop calls against Ripple. With the cleaning of regulatory clouds, XRP has left a long -standing side trend. Meanwhile, Sol notes a momentum of speculation around a potential ETF and could go around $ 220 at $ 300, according to Lee.
QCP Capital added that the current Bitcoin rally feels more stable than the previous ones, drawn by fundamental solids and lower speculation. However, they warn that macro-factors such as the increase in American bond yields, renewed trade tensions and a stronger dollar could still create bumps on the road, especially for altcoins.
The atmosphere of the market always bullish
FXPRO analyst Alex Kuptsikevich, noted that the feeling of Bitcoin feeling is close to “extreme greed”, suggesting that despite the break, more increase could be in advance. For the moment, the Altcoin projector is shiny and XRP could open the way.
