Altcoin holders time is about to start✍️
Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Let's talk about crypto market. Bitcoin is trading above 91k. Guys crypto market is currently in a state of anticipation regarding the possibility of an altcoin season. Historically, alt seasons have occurred when Bitcoin dominance decreases, allowing funds to flow into altcoin projects. However, Bitcoin dominance remains high despite its recent rally. A few top projects like Solana and XRP are showing resilience, but the broader altcoin market cap (Total 3) is still struggling near its lows. Technical indicators, including the Stochastic RSI, MACD, and a recent RSI breakout, suggest bullish momentum, which could signal a potential recovery for altcoins.
Macro factors also play a crucial role, with the U.S. stock market’s recent breakout potentially influencing crypto trends. Bitcoin’s movement often dictates altcoin performance, and utility-based projects appear to be gradually gaining traction. While meme coins initially attracted attention, utility projects are now starting to perform better, hinting at market diversification. I want to advice you all that stay patient, your time is coming. If you invested in strong fundamental projects then there's nothing to worry about. November monthly close will be crucial in shaping market direction. I hope you got the points. That's it for today. Thanks & have a good day!!