“In the incomplete month of September, the rate of the first cryptocurrency increased by more than 10%. The dynamics contrasts with the average drop of 5.9% typical for this month, writes Bloomberg. Source: Bloomberg. The altcoin index added more than 20% due to softening financial conditions amid a global wave of key rate cuts by the Fed, ECB and National Bank. On September 27, buying interest was concentrated in meme tokens (+17.4%). The coin of the Conflux project, which is associated, looks better than the market […]”, — write: businessua.com.ua
In the incomplete month of September, the rate of the first cryptocurrency increased by more than 10%. The dynamics contrasts with the average drop of 5.9% typical for this month, writes Bloomberg.
Source: Bloomberg.
Altcoin index adds more than 20% on easing financial conditions amid global wave of key rate cuts Fed, ECB and NBK.
On September 27, buying interest was concentrated in meme tokens (+17.4%).
The coin of the Conflux project, which is associated as “Chinese Ethereum” (+13.4%), looks better than the market.
HashKey OTC CEO Li Liang pointed to improving funding rates as a sign of market recovery.
“The SOL and BTC ecosystems became the growth leaders, which indicates a strong focus on memcoins against the background of an influx of liquidity. Sector representatives in Ethereum such as PEPE and SHIB are also experiencing increased interest,” the expert added.
Orbit Markets co-founder Carolyn Mauron predicted a bitcoin consolidation near $65,000 due to the September 27 expiration of a large number of options.
Kraken noted that the lack of consolidation above this resistance level could become an obstacle to the continuation of positive dynamics.
All attention is on altcoins10x Research takes the opposite view. According to analysts, a breakdown of $65,000 increases the chances of a rally in the IV quarter. The event also caused a FOMO effect in altcoins, they added.
During the month, the index of speculation in the sector, calculated by Capriole Investments, increased by 13%. The indicator tracks the share of altcoins ahead of Bitcoin by dynamics over the past 90 days. High values indicate the growth of bullish sentiments.
Specialists singled out SHIB, the demand for which comes from retail investors in South Korea.
“Within 24 hours, Shiba Inu regained the top spot for trading volume in this country, signaling increased speculation,” they explained.
10x Research expects the Fed to “remain open to rate cuts” and high-beta altcoins will get additional upside.
Analyst and founder of MN Trading Michael van de Poppe supported his colleagues.
Back on the grind from Monday. #Altcoins are waking up significantly, but this is nothing compared to what we’re going to be seeing in the coming 6 months.
It’s going to be glorious. It already is.
— Michaël van de Poppe (@CryptoMichNL) September 27, 2024
“Altcoins are waking up.” This is nothing compared to what we will see in the next six months,” the expert predicted.
The founder of GoaSymmetric, Joe McCann, noted that “prices for 90% of Binance-traded sector representatives crossed the upper 50 DMA“.
90% of all altcoins on Binance are above their 50-day moving averages.
6% of all altcoins on Binance are above their 200-day moving averages.
Guess what happens next?
— ◢ J◎e McCann 🧊 (@joemccann) September 27, 2024
Analyst Miles Deutscher predicted that the 25 major altcoins he tracks will soon “break out of a months-long downtrend.”
Altcoins are about to break out of a multi-month downtrend.
Q4 is set to be an exciting quarter, but if you want to maximize it – you MUST be holding the right altcoins.
🧵: A MEGA-THREAD of 25 altcoin charts I’m focused on for Q4.👇
— Miles Deutscher (@milesdeutscher) September 25, 2024
“Quarter IV promises to be exciting,” he promised.
Earlier, QCP Capital noted the chances of cryptocurrency growth due to incentives in China.
We will remind, according to the scenario of the analyst PlanB, in October, bitcoin will rise in price to $70,000, and by the end of the year the rate can reach $150,000.
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