Altcoins Set to Hijack the Market with a Comedy of Errors! 🎉🤡

by

Hold onto your hats, folks! The altcoin circus is back in town and it’s promising a fireworks show bigger than 2017 — or so they say. 😂🚀

Key takeaways, or should we say, “key laughs:”

  • The total altcoin market cap (excluding ETH, because apparently it’s too cool for this party) gained a staggering $126 billion in Q2. Yes, billion with a “B” — it’s enough to make yourETF look like chump change! 💰🙄

The altcoin market cap, excluding Ether (ETH— because who doesn’t love a little drama with their crypto), added $126 billion in Q2, sparking more excitement than a cat video on the Internet. Crypto analyst Javon Marks is practically shouting, “Breakout! This could rival the legendary 2017 bull run—like, hold my champagne!” 🍾📈

On X (formerly Twitter, or as I call it, the Twitterverse of Promises), Marks showcased a chart comparing the TOTAL3 index (that’s altcoins, minus Bitcoin and Ethereum, because they’re too mainstream) against the US money supply, hinting that altcoins are on the verge of a rally that could make your head spin faster than a roulette wheel at a Vegas casino! 🎲💸

A rise in TOTAL3 compared to the US money supply hints that altcoins are gaining value faster than a gossip at a Hollywood party, reflecting investor interest hotter than summer in Florida. The capital is flowing—think of it as financial dandruff, but in a good way! 💁‍♂️💦

Mark’s prophecy? Altcoins bounced off a critical retest level after a breakout and he’s practically shouting, “These coins might give us one of the most powerful runs since the good ol’ 2017 days!” — like a grandma trying Facebook for the first time. 😂

“Altcoins have bounced off of the breakout retest against the US money supply and can deliver one of their most powerful runs since 2017!”

Meanwhile, garage sale crypto trader Moustache (yes, that’s his real name—probably) shared a cheeky analysis on X, spotting a weekly inverse head-and-shoulders pattern—sounds fancy, right? It’s basically a bullish thumbs-up that screams, “Hey, remember 2021? Well, get ready for encore!” The chart mirrors 2021, when altcoins surged 174%—that’s like giving your Bitcoin a run for its money! 🚀🤠

“Altseason” — the rollercoaster of mixed emotions 🎢

While some crypto experts are riding the altcoin hype train with enthusiasm—think of them as the cheerleaders at a football game—others are more cautious, like that one friend who always says, “Let’s wait and see.” Technical analyst Crypto Scient remarks that the recent rise is still just a tease, not the main event. The big trend? Still hanging out in the “maybe” zone, like a cat waiting to pounce. 🐱💣

“Since both BTC and TOTAL are near the resistance zone and TOTAL2 still has some room, I am inclined to believe that we are distributing.”

Similarly, DonaXBT points out that Bitcoin’s dominance (yes, the big boss of crypto) is above 60%, which is like saying, “Hey altcoins, you’re not quite the king yet!” If Bitcoin’s dominance drops below 60%—say, down to 56%—it might just be the green light for altcoins to throw a wild party. 🎉

Think of Bitcoin dominance as your ex: as long as it’s over 60%, the altcoins are just waiting in the wings, sipping their drinks, hoping for a breakup so they can step into the spotlight. A dip below that could be the start of something beautiful—or chaotic. Time will tell! ⏳😅

Trumpets, please! The altcoin trading volume is still modest—like a quiet dinner party 🍽️

Data from CryptoQuant shows that altcoin spot trading volumes are still shy—ranging from $3 to $5 billion a day, compared to the $8 to $12 billion back in the last holiday season (Q4 2024). Don’t worry, it’s early days, like training wheels on a bike—still wobbling but heading somewhere exciting! 🚲💥

The Altcoin Season Index is currently at…drumroll, please…24! That means Bitcoin is still the boss—like that one kid at the party who hogs the remote—but hey, when it climbs above 30-40, watch out! That’s when altcoins steal the show with pumps and prances! 🎉💃

With volumes showing faint signs of awakening and the index just nudging upward, investors are whispering, “Could this finally be the start of something big?” Spoiler alert: probably, but don’t hold your breath — hold your popcorn instead! 🍿😉

Read More

2025-05-16 23:33