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Cryptocurrency News Articles
The Cryptocurrency Market Began to Recover from Its Recent Slump, Which Ended on Sept. 6.
Sep 21, 2024 at 05:05 pm
Bitcoin's market dominance has surged to 58.54%, nearing a peak, while several altcoins have started outperforming it, signaling a potential shift in momentum.
Bitcoin’s market dominance has risen sharply in the past year, reaching 58.54% on Sept. 17, 2024. This is the highest level of dominance since April 2021, and it has been driven largely by the broader cryptocurrency market decline. However, Bitcoin’s momentum has slowed in 2024, forming an ascending triangle pattern that suggests Bitcoin’s dominance could be peaking.
In the past couple of days, there was an attempt to break above this resistance, but a quick reversion below it has now reached 58%. As the market entered a recovery, driven by the Federal Reserve rate cuts, some of the altcoins showed double-digit gains and outperformed BTC. The altcoin index reflects this previous period’s favor toward altcoins. After stabilizing around 25 in August, it rose in September, reaching 43 on Sept. 20.
We saw the altcoin season kicking off on Oct. 16, 2023, and it peaked in January with an index score of 75. With its current value at 43, we could be in its mid-point.
Let’s take a look at the five cryptos among the top 100 that outperformed Bitcoin in the last seven days. We prioritize the 7d % change in BTC because that shows the price change against Bitcoin’s USD value fluctuation. However, we added the price change in USD for comparison purposes.
The cryptocurrencies are listed in order from the biggest winner based on the seven-day percentage difference. SUI is the top performer, with a 40% increase compared to BTC, followed by TAO at 34%, and POPCAT in last place with a 31% increase.
If we compare the charts of these three cryptos, we can see that they share a similar pattern. We saw an upturn after declining price action on Sept. 6, with the price action starting to gain momentum from the 16th, which could be their wave three of a developing five-wave impulse. The upward momentum will continue the following week after some consolidation occurs.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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- Bitcoin (BTC) Price Prediction: After the recent rise, the BTC price is juggling around narrow ranges
- Sep 21, 2024 at 10:20 pm
- After the recent rise, the BTC price is juggling around narrow ranges, displaying the possibility of closing the weekly trade on a bullish note
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- BlockDAG Emerges as a Beacon of Growth and Potential in a Shifting Market Landscape
- Sep 21, 2024 at 10:20 pm
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- 2024-2025 Altseason Outlook: Analysts Predict 3 Potential Breakouts Amid Market Rebound
- Sep 21, 2024 at 10:20 pm
- As the crypto market gears up for a potential comeback, analysts are buzzing with predictions. Three altcoins are catching the spotlight, poised for significant gains in the 2024-2025 period.
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- BingX Resumes Withdrawal Services After a $52 Million Security Compromise, Promises to Enhance Security Protocols
- Sep 21, 2024 at 10:20 pm
- BingX, a Singapore-based crypto exchange, has successfully resumed withdrawal services following a recent security compromise that resulted in a massive $52 million loss.
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- JetBolt (JBOLT): A New Altcoin With High Growth Potential to Explode
- Sep 21, 2024 at 10:20 pm
- One such opportunity is JetBolt (JBOLT) a new altcoin that has exploded onto the crypto scene. Many key whales have already taken notice of the new token
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- ZONe ENERGY Collaborates with Graphic Artists COIN PARKING DELIVERY and IK on New Energy Drink 'ZONe graffiti holic'
- Sep 21, 2024 at 10:20 pm
- The QR code printed on the cans allows you to check out the Instagram of each artist.
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- AI Cryptos: the new trend to follow
- Sep 21, 2024 at 10:20 pm
- The AI crypto sector, known to defy the market, has literally exploded in recent weeks. FET and TAO are the two stars shining on this volatile stage.
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- Claim Your $MOG Airdrop Before It’s Too Late!
- Sep 21, 2024 at 10:20 pm
- Claiming your blockchain $MOG tokens is easy! Just follow these easy steps and begin utilizing your tokens right away.
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- Bitgert $BRISE Thought to Be a Suitable Coin for High Yield in 2024; Can It Outpace BNB and Solana?
- Sep 21, 2024 at 10:20 pm
- It will take a substantial shift in the blockchain community for DeFi to gain widespread acceptance. In an attempt to improve the scalability of blockchain networks