Altcoins have staged a strong comeback last week, led by Ethereum’s 40% weekly gains, as market analysts are predicting a full-blown alt season ahead. Furthermore, Bitcoin price has also continued to inch higher to $105,000 as US-China trade deal talks move in a positive direction.
Altcoin Market Cap Needs This Weekly Close For Strong Rally
Renowned cryptocurrency analyst Rekt Capital has shared a bullish outlook for the altcoin market. He stated that if the total market cap (excluding top ten alts) closes above $250 billion, it would likely pave the way for a breakout rally to at least $315 billion. The analyst also noted that such a weekly close would confirm a bottom for altcoins and mark the end of the current market correction at -61%.
Analyst Rekt Capital further stated that this correction is notably shallower than previous market retracements of -69% and -85%, suggesting increasing resilience in the altcoin market. Furthermore, the analyst highlighted that the $425 billion resistance level appears to be weakening as a rejection point. A future revisit could significantly increase the likelihood of breaking past this critical level.
Crypto analyst Merlijn The Trader has issued a sharp reminder to investors amid growing anticipation of an altseason. The analyst highlighted a noticeable decline in Bitcoin dominance, a key metric that often signals capital rotation into altcoins. The analyst further emphasized the importance of timing in such market cycles, cautioning traders to “rotate early or risk buying the top” as altseason gains traction.
Furthermore, the positive development in US-China trade talks could serve as a catalyst for a major crypto market rally ahead.
Willy Woo Takes Contra Bet, Expects Bitcoin Dominance to Exceed 90%
Prominent on-chain analyst Willy Woo has shared his vision for the long-term trajectory of Bitcoin and alts. Citing a Grok 3 analyst, Woo stated that the altcoin market cap is expected to top $10.5 trillion by 2030, on the other hand, Bitcoin dominance will rise to 90%. Woo predicts a market cap exceeding $100 trillion for Bitcoin, dwarfing the projected $10.5 trillion for alt.
“Crypto venture capital as we know it will fade,” Woo noted, highlighting a shift in focus towards BTC. As we know, even big corporate players have been aggressively buying Bitcoins, and prefer them over alts. Corporate players like Metaplanet are building Bitcoin reserves at an aggressive pace.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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