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.

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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.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.