BTC Dominance May Hit 70% By Early 2025, Altcoins May Mark New ATHs Later: Analyst Lizards
- PHPzOriginal
- 2024-08-27 15:12:10423browse
Crypto markets remain largely stagnant as bulls are largely passive as trading volume takes a slight dip compared to the last trading day
Crypto markets are displaying a largely bullish tendency with some interesting movements. While the bulls are falling short of their strength, the bears have managed to squeeze some profits. Bitcoin and Ethereum prices are dropping and approaching crucial support at $63,000 and $2,682, respectively.
However, some altcoins are displaying strength. Helium (HNT) and Akash Network (AKT) are the top performers with over 10% to 12% gains, followed by Klaytn (KLAY).
On the other hand, Notcoin (NOT) experienced a massive drop of over 10%, followed by ORDI (ORDI) at 7.2%, Worldcoin (WLD) at 7.14%, Toncoin (TON) at 7.13% and Pepe (PEPE) at 6.37%. The Memecoin space has also been affected by these losses.
According to a pattern observed by Stockmoney Lizards, BTC dominance is expected to continue rising, which may put more pressure on altcoins. However, once BTC dominance reaches 60% to 70%, altcoins could begin a strong rise, marking the start of an Altseason. The analyst predicts that dominance may peak around the first few days of 2025, followed by a massive crash and potentially a new ATH for BTC price, exceeding $100K.
As the crypto markets approach the end of monthly trade, a significant change in trend may be observed. From a technical perspective, altcoins are expected to maintain consolidation, holding above crucial support. No major price action is anticipated over the next few days as the markets prepare for a consolidated monthly close within a narrow range.
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