Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
The season of alternative cryptocurrencies to Bitcoin may not come

The season of alternative cryptocurrencies to Bitcoin may not come

HappyCoinNewsHappyCoinNews2024/11/29 00:22
By:HappyCoinNews

Statements by the founder and director of the analytical company CryptoQuant, Ki Young Ju, suggest that the season of alternative cryptocurrencies to Bitcoin may not come.

Ju said , that many institutional investors have already invested in exchange-traded funds based on the leading digital assets by capitalization, Bitcoin and Ethereum. They are unlikely to sell derivatives shares to buy altcoins with the proceeds, so the explosive growth of the alternative BTC cryptocurrencies can only happen at the expense of ordinary traders and investors.

For altcoin market cap to reach a new all-time high, there needs to be a significant influx of capital into crypto exchanges. The fact that altcoin market cap is hovering below its previous all-time high is evidence of a decline in new capital, Zhu wrote.

The season of alternative cryptocurrencies to Bitcoin may not come image 0

Change in the capitalization level of Bitcoin (left) and altcoins

According to Key, altcoin season can only happen if retail investors and traders are swayed by the fear of missing out and buy up small-cap coins in the hopes of hitting the jackpot during a bull run. Accordingly, the fate of altcoins will depend on whether the public can be convinced of a cryptocurrency price pump to come.

Futures market statistics suggest that the altcoin season should begin at least for Ethereum. On November 27, the amount of open positions for buying ETH updated its historical maximum, reaching $22 billion. If the positive trend continues, the Ethereum rate will inevitably increase.

EN @happycoinnews
EN @happycoinnews_en
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!

Bitget Announcement2025/09/12 07:46

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

New spot margin trading pair — LINEA/USDT!

Bitget Announcement2025/09/11 10:04