BITPRISMIA
Coinbase predicts an upcoming altcoin season where altcoins are likely to outperform Bitcoin, influenced by potential Federal Reserve rate cuts and shifts in market dominance.
Henrik Zeberg predicts the crypto market could rise by 400%, reaching up to $12 trillion before the bubble bursts, marking the largest single-cycle expansion.
The current Altcoin Season Index reading of 40 indicates a Bitcoin-dominant market phase, where fewer than 25% of top altcoins outperform Bitcoin, influencing investment strategies and market dynamics.
The Altcoin Season Index indicates the crypto market is currently in Bitcoin Season, with Bitcoin outperforming most altcoins, and provides insights for investors to adjust their strategies accordingly.
The Federal Reserve has decided not to implement an immediate Fed Rate Cut, maintaining the benchmark interest rate at 4.25%–4.50%, due to ongoing economic complexities and inflation concerns.
The Crypto Fear & Greed Index has reached 72, indicating a 'Greed' zone in the market, reflecting widespread optimism but also potential risks of irrational behavior and unsustainable price bubbles.
Machi Big Brother, a prominent NFT whale, suffered a $3.86 million floating loss due to leveraged positions in PUMP, ETH, and HYPE tokens, highlighting the risks of high leverage in volatile markets.
CryptoQuant's on-chain data reveals a significant decline in Bitcoin's organic demand despite aggressive accumulation by ETFs and MicroStrategy, suggesting a potential challenge for Bitcoin to surpass its all-time highs without broader market participation.