Here is Why We Should be Expecting an Altcoin Surge

Altcoins have been dragging their feet this past year, while Bitcoin managed to reach a new all-time high in March.

Tether’s (USDT) dominance in the cryptocurrency market has seen a notable decrease over the last year, hinting at a potential surge in altcoins.

This shift occurs as Bitcoin struggles to break the $69,000 resistance, leading investors to seek new opportunities.

Recent data shows USDT’s market share has dropped notably this past week. Over the month, it fell 4%, though it had risen 27% over the last six months.

On a broader scale, USDT dominance has declined by 28% year-over-year, with only a slight 0.8% increase since the start of 2024, signaling a pause as investors potentially prepare to re-enter the market.

Typically, when USDT’s hold on the market diminishes, it indicates that funds are moving into altcoins, which could spark a rally in this sector.

Historically, October has been favorable for crypto, and with rising institutional interest and expectations for interest rate cuts from the Fed, Bitcoin could be poised for gains soon.