- Bitcoin is looking healthier during the current cycle than in the previous one.
- The current cycle lacks “a dominating narrative.”
- Meme coins might soon try to catch up with POPCAT’s massive gains.
The crypto market is due a rally and is showing signs of strength, as pointed out by Miles Deutscher, a crypto analyst and DeFi expert. Deutscher highlighted that the bearish performance of digital assets will result in investors taking “massive offside positioning,” pushing prices higher.
In a thread on X (formerly Twitter), Deutscher gathered bullish sentiment from across the platform, predicting a Q4 rally leading to a market top in 2025. He believes Bitcoin is in a healthier position than in the previous cycle and suggests “VC coins” (tokens backed by venture capital) could reach new highs soon.
The Top Performers
Deutscher highlighted the top-performing sectors since the recent market low on September 6th. Infrastructure tokens, Layer 1 tokens, omnichain tokens, and Layer 2 assets are all showing bullish signs. Meanwhile, the ETH/BTC ratio continues to decline, with analysts predicting a bottom is near.
Meme Coins and NFTs: Mixed Signals
Meme coins, with the exception of Popcat (POPCAT), have yet to join the uptrend. However, there is a chance that other memecoins like dogwifhat (WIF), Pepe (PEPE), and Dogecoin (DOGE) could catch up to POPCAT’s performance.
Read also: Top 10 Most Centralized Cryptos: Should You Be Worried?
Deutscher also noted that the crypto market currently lacks a “dominating narrative,” leaving room for AI, RWA, or modular blockchains to take center stage in this cycle. Additionally, NFTs and GameFi tokens are also showing signs of a slight surge in prices in the near future, forming lower highs.
In the past 24 hours, the total market capitalization of the crypto space dipped 3.9% and its value stands at $2.12 trillion. Additionally, the total volume traded in the market stands at $74.78 billion.
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