- Bitcoin surged past significant resistance amid rediscovered momentum.
- ASTER, SUI, and SEI will likely skyrocket when Bitcoin slows down.
- An increased Bitcoin dominance will be beneficial for the next altcoin market surge.
A cryptocurrency analyst has identified ASTER, SUI, and SEI as the top three altcoins that are expected to benefit from Bitcoin’s rediscovered bullish momentum. In his latest podcast, the analyst spotted a renewed Bitcoin dominance as the potential trigger for the next altcoin season, noting that the higher the metric’s value, the more beneficial it would be for the altcoin market.
Bitcoin’s unstoppable rebound
Bitcoin resumed its uptrend from the final week of September, extending it into the first week of October amid speculation of a return of the bull run. The cryptocurrency defied expectations by surging past resistance around the $116,000-$118,000 region while pursuing a new all-time high.
According to the analyst, Bitcoin’s latest move will be more favorable for altcoins if the pioneer cryptocurrency’s dominance extends deep into the 60% region. He noted that a higher Bitcoin dominance would create room for an extended altcoin season during capital rotation, when investors begin to move their funds from Bitcoin into the altcoin market.
In the meantime, the analyst expects the Bitcoin rally to continue for at least the next two weeks, considering development events in the US macroeconomic sector. Additionally, he cited reports of ongoing Bitcoin accumulation by long-term holders who accumulated over 3,800 BTC in the past month. TradingView data reveals that Bitcoin traded at $122,418 at the time of writing, marking a slight decline from its Friday high of $123,966.
Related: Bitcoin Breaks $121K as XRP, Chainlink, Solana, SUI Gear for Breakout
Altcoins that are ready to explode
Meanwhile, the analyst identified ASTER’s exploding volume as an indicator for the cryptocurrency’s potential rally when the altcoin season begins. He cited DeFiLlama’s data, which revealed that ASTER recorded a volume of $85 billion in the past 24 hours amid a 50.77% rally in the past four days. Nearly all ASTER’s fundamental indicators suggest a potential surge in the cryptocurrency’s value, and the analyst believes a price surge would happen when Bitcoin slows down.
SUI’s TVL recently reached a new all-time high, leading the analyst to believe the digital asset is getting ready for another bull run. He also identified developments within the SUI ecosystem, including the release of the Citadel wallet, which supports Bitcoin, and the potential launch of an SUI ETF as clear signs of an imminent increase in the digital asset’s demand.
In the meantime, SEI has flipped INJ and ICP combined in total trading volume amid multiple developments within the SEI Network, prompting the analyst to project the DeFi token as a potential leader in the next phase of the altcoin season.
Related: USDT Dominance Falls 8.4% as Solana Hits $225 and ASTER Surges 18%
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