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Altcoin Rally Won’t Happen Until 2025 As Bitcoin Eyes 60% Market Dominance

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1 month ago

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While the Bitcoin (BTC) price has been eyeing a move above $70,000 recently, top altcoins like Ethereum (ETH), BNB, and Solana (SOL) have picked up much pace in this resurgence. Market analysts believe that it’s too early to call for an altcoin rally and might not happen in the fourth quarter of this year.

Don’t Expect An Altcoin Rally in Q4 2024, Here’s Why

Popular crypto analyst Benjamin Cowen stated that the current drop in the ALT/BTC pairs is mainly due to the drop in the net liquidity along with the strengthening of the U.S. Dollar Index (DXY). He believes that this trend will continue until 2025 while pushing the Bitcoin market dominance even higher this quarter.

Cowen predicts that BTC dominance will peak around 60% between September and December 2024, and might as well overshoot this milestone. He expects the dominance uptrend to end by early January 2025.

However, with the potential for interest rate cuts and the reintroduction of quantitative easing (QE), Cowen suggests that 2025 will bring about different market conditions that could shift the dynamics for altcoins. Here’s the list of some best altcoins to bet on before the rally begins.

Bitcoin Eyes 60% Market Dominance

As the odds of a Donald Trump victory in the upcoming US Presidential elections improve, analysts are hopeful that he might end the crypto regulatory headlock as seen during the Biden administration.

On the other hand, the demand for spot Bitcoin ETFs has skyrocketed this week clocking nearly $1.4 billion in inflows within the first three days of the week. The BlackRock Bitcoin ETF IBIT has been leading the pack taking its total inflows above $22.5 billion since inception in January. Vetle Lunde, the Head of Research at K33 Research writes:

“After super strong ETF flows lately, new milestones have been reached! Yesterday, U.S. spot ETFs surpassed 950,000 BTC under management, marking a new all-time high. These relentless flows have pushed global BTC ETP beyond 1.2m BTC for the first time”.

Another reason why Bitcoin dominates over altcoins is that the BTC whale transactions have reached their highest in over 10 weeks with 11,697 transfers exceeding $100,000 on Tuesday, earlier this week.

Furthermore, on-chain data provider Santiment reports that social media discussions have shifted heavily toward Bitcoin over altcoins, with the leading cryptocurrency accounting for more than a quarter of all crypto-related conversations. This comes as Bitcoin’s price surpassed $68,000 for the first time since July, drawing heightened attention from traders.

Courtesy: Santiment

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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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Why Is Cardano Price Poised To Hit ATH Soon?

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28 mins ago

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November 17, 2024

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Cardano price has been on the investors’ radar lately, as evidenced by the recent ADA rally. Besides, a flurry of developments around Founder Charles Hoskinson has also sparked optimism in the market over further rallies. Amid this, market experts have predicted a strong rally ahead for the crypto.

So, let’s explore the potential reasons that may help ADA price to continue its gain in the coming days.

Reasons Why Cardano Price Poised To Hit ATH Soon

A flurry of recent market developments hints at potential ATH for Cardano price soon. For context, in a recent X post, Cardano founder Charles Hoskinson lauded the ADA community, citing it as the “best community” and said that it has the best entrepreneurs as well. Besides, he also predicted the Voltaire update to make the ecosystem the “finest government ever assembled by humanity.”

This post reveals the founder’s confidence in the community, which could extend the ongoing rally in ADA price. Additionally, Charles Hoskinson visiting Elon Musk’s SpaceX office has also sparked speculations, especially given the individual’s growing influence in the US political landscape.

Besides, Hoskinson has recently said that he would support the Trump Government in shaping crypto legislation. He aims to help the US administration in crafting clear regulatory frameworks for digital assets, which have faced regulatory pressure over the past few years.

ADA Rallies As US Appeal Soars

The recent comments from Ripple CEO Brad Garlinghouse have also sparked market optimism. In a recent FOX Interview, Garlinghouse said that XRP, ADA, SOL, and other crypto issued by the US companies have noted strong rallies in recent days, surpassing other crypto. He said that the anticipation over pro-crypto policies under the Republican government has fueled the rally, while many anticipate the Trump rally to continue to benefit the crypto.

Besides, a flurry of market pundits predicts that crypto to note a strong rally ahead. For context, prominent crypto market analyst Ali Martinez said that Cardano price is poised to hit $6 in 2025, further fueling anticipation over the ADA rally to its new ATH.

Cardano price chartCardano price chart
Source: Ali Martinez, X

Notably, ADA price has recently soared past the $0.78 mark, marking its highest level since March 2024. Besides, Cardano Futures Open Interest also rose more than 20% over the weekend, CoinGlass data showed, indicating the growing confidence of the investors.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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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Top 5 Changes Coming to Cryptocurrency Market in 2025

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4 hours ago

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November 17, 2024

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With enthusiasm and excitement around the Spot ETF and Donald Trump’s win in the US election, the cryptocurrency market has witnessed quite a boost in the last few days. After a slow 2023, 2024 was anticipated to be the year of bulls, which has come true to some level. In these 11 months, eight months were positive in terms of Bitcoin growth, especially in November.

BTC created an ATH at $93k and is still trading above $9ok. Many altcoins also had similar gains, and many even achieved new ATHs. However, there are only limited days left for this year to end and the beginning of another, creating another level of excitement about what might be coming next for the crypto market.

Better Cryptocurrency Market Regulation

Since the beginning of the year, all the investors have focused on the US election results and how that will impact the cryptocurrency market. Between Donald Trump and Kamala Harris, Trump has more crypto-friendly approaches, promising better crypto regulation. On the other hand, his biggest competitor, Kamala Harris, also acknowledged the industry and promised to work on its development.

However, with Trump calling himself the Bitcoin president, launching a crypto venture, promising to fire Gary Gensler and other promises, the votes went in his favor. Interestingly, Donald Trump’s win became crypto’s win, as the cryptocurrency market turned bullish since the result declaration.

More importantly, Trump is gathering pro-crypto candidates for higher positions, so the anticipation is high for upcoming crypto regulations. Many analysts and crypto leaders have pointed out the need for clear rules and regulations for the industry, which could help the industry instead of restricting it. More importantly, many have urged that this will begin with Gary Gensler’s resignation from the SEC Chair position.

Remember:

Cycles repeat. ✅

There’s more liquidity in the system now than in 2017.

More institutions are involved.

More partnerships exist.

More crypto regulations are taking shape.

And yet, without any of these, XRP still outperformed BTC and ETH in 2017.

Documented. 📝🔑… pic.twitter.com/rONIJRIGhl

— SMQKE (@SMQKEDQG) November 16, 2024

Eventually, with Trump’s inauguration scheduled for January, the formation of a regulatory framework is likely to happen in 2025.

Increased Crypto Adoption

El Salvador and Bhutan governments are in the limelight for their Bitcoin holdings, as they have openly welcomed this crypto to achieve more financial freedom. Per the Arkham data, Bhutan has more than $1 Billion in Bitcoin holdings. More importantly, it is one-third of the country’s gross domestic product, explaining the extent of BTC adoption. Out of this, the Bhutan government sold $33M BTC through Binance when Bitcoin price surged to new ATH and made significant profits on their initial investment.

On the other hand, El Salvador has been buying BTC since 2021 amid their Bitcoin adoption plan. El Salvador now has more than 6000 BTC, worth billions today. With that, many more countries might follow soon, including the US, as the higher-ups are discussing creating a strategic Bitcoin reserve and collecting more than 1 Million Bitcoins over the next few years. In this, Senator Cynthia Lummis is the biggest supporter and has proposed selling Federal Reserve gold to buy BTC.

There are also positive indications that China might lift its crypto ban, especially with Trump planning to strengthen the US with crypto. Meanwhile, other countries like UAE, Saudi Arabia, and others are rumored to buy Bitcoin for their sovereign wealth funds. With that, 2025 will witness many nations strengthening their economy with cryptocurrency, boosting the crypto market.

Introduction of Better Cryptocurrencies

Thousands of new cryptocurrencies enter the market every year with unique functionalities and profit potential. 2024 was the year of meme-themed cryptocurrencies, where many popular memecoins entertained investors with their new gains. With that, the cryptocurrency market is now worth $3.04 Trillion in market capitalization and $191.9B in trading volume. With the constant development of the industry and new token introductions, the crypto market cap is to grow past $4 trillion in 2025.

More Spot ETF Introduction In Cryptocurrency Market

After Bitcoin and Ethereum Spot ETF, the market might witness many other ETF approvals in the upcoming few years. Many firms have already applied for Solana, XRP, and other ETFs soon after the Ethereum ETF’s approval, and more are likely to happen throughout the year. Nate Geraci, CEO of ETF Institute, also talked about the same in a recent tweet, anticipating the several spot crypto ETF filings in November alone.

Prediction…

There will be several spot crypto ETF filings this week.

XRP, SOL, ADA, etc.

Assume multiple issuers were highly prepared for election results.

No downside to getting aggressive now.

— Nate Geraci (@NateGeraci) November 11, 2024

BTC and ETH ETFs gained extreme popularity among investors. Here, the Bitcoin ETF has gained $98.66B in market cap alone, opening the possibility of approval of other popular crypto ETFs. Interestingly, Solana is likely to take the lead, says VanEck.

Cryptocurrency Market Bull Run

2025 is the year for Bull Run, where all the cryptocurrencies will achieve their prime. With Bitcoin halving in April 2024, crypto users are now awaiting this bullish time, which usually comes months after the halving event. With historical trends and the ongoing market’s bullish behavior, analysts have anticipated the Bull run to hit in early or mid-2025, making it the biggest event of the cryptocurrency market. This would entirely change the market, where continuous gains would fill investors’ pockets, cryptos would grow to new highs, and the market economy would grow.

A bullish cryptocurrency market is much more certain than before, especially with the Trump win. With better crypto regulation, increased adoption, and the rising demand of the crypto industry, 2025 is going to be big. However, it is also important to understand that market fluctuations and macroeconomic factors could change the timeline of these crypto events.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

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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Elon Musk Explains Why Tether Advocate Howard Lutnick Is Best For US Treasury Role

Published

7 hours ago

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November 16, 2024

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Elon Musk has expressed his support for Howard Lutnick, CEO of Cantor Fitzgerald and Tether advocate, as the leading candidate for the U.S. Treasury Secretary position in Donald Trump’s administration. Musk emphasized that Lutnick is capable of enacting change, contrasting him with Scott Bessent, another contender for the role.

Elon Musk Views Howard Lutnick as a Change-Driven Treasury Pick

In a recent post on his social media platform X, Elon Musk endorsed Howard Lutnick for the role of U.S. Treasury Secretary. Elon Musk stated that Lutnick would bring the change needed to address the country’s financial challenges. He contrasted Lutnick with Scott Bessent, founder of Key Square Group, whom Musk described as a “business-as-usual choice.” 

Musk underscored that the status quo is pushing the United States toward financial instability and called for public input on the decision.

Musk’s endorsement has amplified the debate over the Treasury Secretary pick, with Lutnick’s approach seen as disruptive compared to Bessent’s steady, market-friendly stance. The decision has become a focal point in the president-elect’s transition efforts.

In addition, the Tesla CEO urged the public and policymakers to weigh in on the Treasury Secretary decision. In his post, Elon Musk suggested that feedback would help Donald Trump make an informed choice. He emphasized that Lutnick’s ability to enact meaningful change aligns with the public’s demand for a revamped approach to economic governance.

To encourage more engagement, Musk emphasized, 

“Would be interesting to hear more people weigh in on this for Donald Trump to consider feedback.”

Scott Bessent Vs Howard Lutnick

Howard Lutnick has been participating in the formation of Trump’s policies as a member of the president-elect’s transition team for economic appointments. His support for tariffs and domestic economic strengthening has drawn both praise and criticism.

Responding to Musk’s endorsement of Howard Lutnick, Chris Pavlovski, CEO of Rumble, highlighted Lutnick’s instrumental role in taking Rumble public and standing firm for free speech.

Nevertheless, despite the Tesla CEO endorsements of Howard, Scott Bessent’s odds of being nominated as Treasury Secretary have risen to 87%. This has seen the Bitcoin price surge, with market sentiment tied to Bessent’s pro-crypto stance. BTC recently climbed to a new all-time high amid expectations that Trump’s appointment would bring clearer crypto regulations.

Bessent, a known advocate for Bitcoin and blockchain technologies, has highlighted their potential to democratize financial markets. His nomination could mark a pivotal moment for crypto adoption in the United States. However, his perceived alignment with traditional financial practices contrasts with Howard Lutnick’s disruptive approach, presenting a stark choice for Trump.

Meanwhile, Donald Trump will make his decision on the Treasury Secretary position in the coming days. Both Howard Lutnick and Scott Bessent are considered frontrunners, with lobbying efforts intensifying. 

Lutnick’s role as co-chair of Trump’s transition team and now Elon Musk’s endorsement has boosted his candidacy. The announcement is likely to have far-reaching implications for U.S. economic strategy. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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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