Recently, holders of alternative cryptocurrencies have been under significant pressure due to recent market fluctuations over the past five weeks.
Such periods of intense volatility often test the resolve of investors, causing many to consider giving up. However, it is crucial to acknowledge that altcoins typically thrive when Bitcoin dominance weakens. Discussions around Ethereum ETFs are becoming increasingly common, with approvals and trading expected as early as July.
Currently, Bitcoin dominance is showing similarities to the peaks observed in 2017 and 2021. This pattern suggests a potential bullish altcoin market, marked by significant changes in buyer and seller dynamics.
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Expectations are growing around the upcoming Ethereum ETF, which is expected to attract the interest of many investors, as was the case with Bitcoin. The altcoin market is likely to react strongly before the launch of the Ethereum ETF spot, which could lead to a period of volatility. Maintaining self-control and resilience will be crucial at this stage.
Ethereum is expected to take a leading position, reducing Bitcoin dominance and strengthening the influence of ERC20 projects. This could catalyze a rapid altcoin season, with Bitcoin potentially reaching $80,000-$100,000 or more by the end of the summer.
