A closely watched analyst and trader thinks altcoins are gearing up to have their time in the sun and outperform Bitcoin (BTC).
Crypto strategist Ali Martinez tells his 72,200 followers on the social media platform
The trader shares a chart indicating that TOTAL is about to witness a major upside burst.
“Altcoin market cap looks poised to cross $1 trillion… It’s only a matter of time before altcoin season begins!”
At the time of writing, TOTAL3 is trading for $603.371 billion.
The trader also keeps an eye on the Bitcoin dominance chart (BTC.D), which tracks Bitcoin’s market cap relative to the rest of crypto. According to Martinez, BTC.D sends a signal that bodes well for altcoins.
“Bitcoin’s dominance appears to be peaking, hinting at a possible dip to 47% – setting the stage for an altcoin season!”
A bearish BTC.D could indicate that altcoins are increasing in value faster than Bitcoin.
At the time of writing, BTC.D is hovering at 57.48%.
As for layer-1 platform Sui (SUI), the crypto strategist thinks the altcoin appears to be repeating a pattern that Solana (SOL) printed about three years ago before triggering an exponential wave.
“SUI looks like Solana in 2021, before the bull run!”
In 2021, Solana rose from $1.50 to an all-time high of $259.96. At the time of writing, SUI is worth $1.53.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Generated image: Midjourney
