Bitcoin (BTC) price rose back above $70,000 for the first time in a week, recovering from the streak of negative flows into spot BTC exchange-traded funds (ETF) last week.

Data from Cointelegraph Markets Pro and TradingView shows the BTC price climbed from an opening of $67,212 to an intra-day high of $70,306 on March 25. At the time of publication, BTC was trading at $70,268, up 7.5% over the last 24 hours.

BTC/USD daily chart. Source: TradingView

Bitcon’s recovery follows a period of price downturn that has seen the cryptocurrency fall as low as $60,771, corroborated by negative ETF inflows. Could the surge in multiple BTC price metrics be a sign of things to come?

Weekly outflows into spot Bitcoin ETFs totaled $904 million

Last week “marked the end of a 7-week cycle” of inflows into crypto investment products as investors withdrew more than $942 million, according to a March 25 report by CoinShares.

The report noted that last week marked the “first outflow following a record 7-week run of inflows totaling US$12.3bn.”

Source: CoinShares

The crypto asset management firm attributed the large outflows to the recent drawdown in crypto prices, which “wiped US$10bn off total assets under management (AuM) but remain above prior cycle highs at US$88bn.”

CoinShares analyst James Butterfill said,

“We believe the recent price correction led to hesitancy from investors, leading to much lower inflows into new ETF issuers in the US, which saw US$1.1bn inflows, partially offsetting incumbent Grayscale’s significant US$2bn outflows last week.”

The poor sentiment was mostly focused on Bitcoin, which accounted for “96% of the flows” totaling $904 million, ”while short-bitcoin also saw minor outflows totaling US$3.7m.”

Weekly flows by asset. Source: CoinShares

Bloomberg analyst James Seyffart said that the large outflows witnessed by the spot Bitcoin ETFs last week were probably driven by bankrupt lender Genesis selling GBTC shares.

Source: James Seyffart Spike in Bitcoin Age Consumed metric

Bitcoin has recently experienced a notable surge in its Age Consumed metric over the past few days. According to data from market intelligence firm Santiment, the number of dormant BTC addresses moving BTC surged to 162.89 million on March 23, the highest in over two years.

Bitcoin: Age consumed. Source: Santiment

Age Consumed is a metric that tracks the movement of previously idle BTC coins. The metric shows the number of BTC changing addresses daily multiplied by the number of days since they moved. Spikes signal a potential increase in price volatility.

This spike in Age Consumed suggests that previously dormant addresses holding Bitcoin are now re-entering circulation, indicating a revival in network activity. This was evidenced by a surge in transaction volume, as shown in the in chart below.

Bitcoin transaction volume. Source: Santiment

As Bitcoin’s Age Consumed metric grows, transaction volume increases, a precursor to potential price jumps in the BTC price.

Is an altcoin season coming?

The CoinShares report noted that altcoins “fared well” last week, “seeing a net inflows of US$16m.” Most notable were Polkadot (DOT) with $5 million inflows, Avalanche (AVAX) with $2.9 million and Litecoin (LTC) with $2 million.

As such, a number of large-cap altcoins have outperformed Bitcoin over the last week. They were led by BNB Chains’ BNB, Dogecoin (DOGE), and Toncoin (TON, which have produced 7%, 20% and 46% gains in the last seven days, according to data from CoinMarketCap.

Although Bitcoin has only risen 4.5% over the same period, it has outperformed most altcoins over the same period, including Ethereum.

At the time of publication, the total crypto market was resting at $1.191 trillion, 43% below the $1.707 peak reached in November 2021.

Total altcoins market capitalization. Source: TradingView

The weekly relative strength index is in the overbought region at 83, suggesting that the altcoin market still favors the upside.

Independent analyst and X user ChiefRat takes notice of these overbought conditions and says that although he expects “the #altcoins market cap to make a new ATH in 2024,” there could be a test of the support at $960 billion.

“For now, we are moving mid-range. Resistance 1.25T, support $960B.”

Adding this, popular analyst Sheldon The Sniper said, “A squeeze from BTC and a drop in dominance will create a MEGA altcoin squeeze and rally,” adding that the market is “one step closer to a true altseason.”

However, data from CoinMarketCap shows that BTC still dominated the market at 51.77%. Moreover, the Altcoin Season Index by Blockchain Center has dropped to 49, meaning that the altcoin season is not here yet.

Altcoin season index. Source: Blockchain Center

Blockchain Center says an altcoin season can only be declared when “75% of the top 50 coins performed better than Bitcoin over the last season (90 days).”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The post Top 10 Altcoin Explosion With 20x to 100x Growth by the End of 2024 Crypto Bull Run appeared first on Coinpedia Fintech News

Get ready for some major moves in the cryptocurrency world this year! We’re talking about game-changers like the Bitcoin halving, an Ethereum ETF getting the green light, and more. These events are like fuel for the fire of the crypto bull run, and experts are buzzing with anticipation. Famous Youtuber Brian Jung in his video, unveils 10 coins and reasons why this cycle will be unlike any other.

First up, the Bitcoin halving is just around the corner, set to shake things up in about two months. And mark your calendars for around May 23rd because that’s when we could see Ethereum ETFs finally getting the thumbs-up. That approval could send Ethereum’s momentum soaring even higher. 

So, excited to jump on the wagon? It’s time for 10X your profits with there top 10 picks of the analyst for this bull cycle.

Gala Games (GALA): First up Gala Games is a gaming platform that allows users to earn money while playing. It has garnered attention for its unique concept and potential for growth in the gaming sector. With significant backing from VC firms and exchanges, Gala Games presents a promising investment opportunity.

Beam (BEAM): The underrated coin Beam is an infrastructure token for crypto gaming, offering support for decentralized games and applications. It has demonstrated strong performance, doubling in value since its launch. With the potential for further growth in the crypto gaming sector, Beam presents an attractive investment opportunity.

Heroes Amavia (HEROES): Brian suggests even though Heroes Amavia is a relatively new project in the gaming space it has generated excitement among investors. With strong partnerships and a promising concept, Heroes Amavia has the potential to deliver significant returns for investors.

Immutable X (IMX): In the current market frenzy, Immutable X is another crypto gaming infrastructure token, offering scaling and interoperability solutions. With growing interest in crypto gaming, Immutable X has the potential to become a key player in the space.

GMT (GMT): GMT is a gaming token that allows users to earn rewards by walking. While it has seen significant price fluctuations, it presents an interesting opportunity for investors looking to capitalize on the growing trend of gamified experiences.

Top Crypto Market Sectors To Rally Hard

AI-focused Altcoins: The article mentions the growing interest in AI-focused altcoins, which offer solutions for investors and traders. While specific altcoins are not named, the AI sector presents opportunities for growth and innovation in the crypto space.

Layer One Altcoins: Layer one altcoins, such as Ethereum and Solana, offer scalability and functionality for decentralized applications. These platforms have seen significant adoption and investment, making them attractive options for investors looking to diversify their portfolios.

NFT-focused Altcoins: Non-fungible token (NFT) focused altcoins have gained traction in recent months, driven by growing interest in digital collectibles and art. Projects like Axie Infinity and The Sandbox have seen significant growth, presenting opportunities for investors in the NFT space.

Metaverse Altcoins: Metaverse altcoins, which focus on virtual reality and digital experiences, have also seen increased interest from investors. These projects offer opportunities for innovation and growth in the burgeoning metaverse industry.

DeFi Altcoins: Decentralized finance (DeFi) altcoins continue to be popular among investors, offering solutions for lending, borrowing, and trading. Projects like Aave and Uniswap have seen significant growth, presenting opportunities for investors in the DeFi space.

Moreover, the analyst also predicts that by the end of the cycle, investors will realize that many of these altcoins have grown 20x, 30x, 40x, or even 100x. The expert is optimistic and convinced that the crypto industry may evolve and deliver huge rewards.

The post Top 3 Altcoins Under $0.1 to Turn $1 To $10 This Week appeared first on Coinpedia Fintech News

The market is buzzing with immense energy as the altcoins reverse the trend polarity to maximize their bullish. This wave of enthusiasm is catapulting altcoins to new heights, particularly as we edge closer to the Bitcoin strides above $50,000, marking a significant uptick in altcoins that have delivered more than 100% astronomical returns. This surge is a clear indicator of burgeoning investor confidence.

In the wake of this upward trajectory, the anticipation for the forthcoming week is high, with expectations set on identifying additional altcoins on the brink of their new bull run. It’s time to delve into the standout altcoins poised for 10x returns in the imminent week. In short, turn $0.10 of investment into $10 potentially.

AMP

AMP is a digital collateral token that offers instant, verifiable assurances for any value transfer. Using AMP, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related operations.

AMP’s framework is designed for a wide range of applications, from digital payments to fiat currency exchange, loan distributions, and property sales. AMP’s integration into DeFi platforms for collateralization can enhance its liquidity and utility, making it an essential token within the DeFi ecosystem. 

AMP has witnessed significant growth, with a 24.94% increase over the last 7 days and a 37.53% surge in the last 30 days. This robust performance underscores AMP’s strong market presence and potential for further gains, supporting the bullish outlook.

Further, as adoption grows, the demand for AMP could increase, potentially driving its price upturn.

Harmony (ONE)

Harmony is a fast and open blockchain for decentralized applications. Its mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Harmony aims to innovate the way decentralized applications work by focusing on random state sharding, which allows the creation of blocks in seconds.

As the demand for scalable blockchain solutions grows, Harmony’s effective use of sharding to increase transaction speed and reduce costs positions it as a strong contender in the space, potentially boosting ONE’s value.

Harmony has shown a solid uptrend with a 12.04% increase over the past 7 days and a substantial 36.15% jump in the last 30 days, alongside a 5.81% rise in the last 24 hours. These figures reflect Harmony’s growing traction and capacity to deliver consistent returns, reinforcing the case for a bull run.

Marlin (POND)

Marlin is a decentralized network protocol that provides high-performance, secure, and programmable network infrastructure for DeFi and Web 3.0. It aims to address the scalability and performance issues in decentralized networks by offering a layer-0 scaling solution.

As the need for scalable blockchain infrastructure grows, Marlin’s layer-0 solutions are well-positioned to support high-throughput and low-latency applications, driving demand for POND.

Marlin’s performance, with a 7.27% increase in the last 7 days and a notable 37.67% in the past 30 days, indicates a steady climb. Marlin’s resilience and growth potential make it a candidate for further upward movement.

Conclusion

In the current market trend, altcoins are exhibiting bullish trends, and investor confidence is surging. Further, several under-the-radar altcoins priced below $0.1 stand out for their potential to deliver substantial returns. Among these, as per our analysis, AMP, Harmony (ONE), and Marlin (POND) are particularly noteworthy, each demonstrating significant momentum and the potential for rapid growth.

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