An esteemed analyst and trader believes that altcoins are preparing to shine and outperform Bitcoin (BTC).
Ali Martinez, a crypto strategist followed by 72,200 individuals on the social media platform X, is closely monitoring the TOTAL3 chart. This chart tracks the market cap of all digital assets excluding Bitcoin, Ethereum (ETH), and stablecoins. Martinez shares a chart that suggests TOTAL is on the verge of a significant upward surge.
“The altcoin market cap is poised to exceed $1 trillion… It’s only a matter of time before altcoin season begins!”
At the time of writing, TOTAL3 is trading at $603.371 billion.
Martinez is also paying attention to the Bitcoin dominance (BTC.D) chart, which measures Bitcoin’s market cap against the rest of the cryptocurrency market. According to Martinez, BTC.D is showing a signal that bodes well for altcoins.
“Bitcoin dominance seems to be peaking, indicating a potential dip to 47% – paving the way for altcoin season!”
At the time of writing, BTC.D stands at 57.48%.
Moving on to the layer-1 platform Sui (SUI), the crypto strategist believes that the altcoin is mirroring a pattern similar to Solana (SOL) three years ago, just before it experienced an exponential surge.
“SUI resembles Solana in 2021 before the bull run!”
In 2021, Solana surged from $1.50 to an all-time high of $259.96. At the time of writing, SUI is valued at $1.53.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are done at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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