As we reported at Kriptokoin.com, Bitcoin (BTC) closed above $100,000 for the first time in its history. This historic development also accelerated the altcoin market. The total altcoin market value increased by more than 80 percent in the last five weeks, reaching $1.57 trillion. Record cash inflows, especially in spot Ether ETFs, led this rise in the altcoin market. However, Litecoin and Ethereum are showing bullish signals.
Ethereum (ETH): New Highs Ahead
Ethereum (ETH) has gained 60 percent in the last five weeks. The leader of altcoins has reassured its investors by testing the critical resistance of $ 4,000. Ethereum’s total locked value (TVL) is over $ 78 billion. The stablecoin market value has exceeded $ 106 billion. The daily trading volume has reached $ 22 billion.
Also of note, Ethereum has broken its multi-year downtrend . Technical analysis suggests that Ethereum is showing a similar movement to the 2017 bull cycle. The increased investor interest could lead to a new all-time high (ATH).
Litecoin (LTC): Bulls Take Control
Litecoin (LTC) broke through the resistance at $111 in recent weeks. This move was a positive signal for altcoin investors. Litecoin, which works with the Proof-of-Work mechanism, has reached 7.8 million on-chain wallet owners. The average daily transaction volume is over $1 billion.
Litecoin’s Relative Strength Index (RSI) has crossed the 70% level, suggesting that bulls are taking control. In addition, the Litecoin network has been boosted by two halvings and major institutional investments in the last six years . This increases Litecoin’s potential to reach new highs.
Expectations Rising in the Altcoin Market
The altcoin market is witnessing a strong upward wave after Bitcoin surpassed the historic $100,000 level. Leading altcoins such as Ethereum and Litecoin are drawing attention with their technical indicators . In addition, institutional investments and cash flows in the spot ETF market indicate that these two assets can reach higher levels.
In addition, Ethereum’s leadership in the DeFi ecosystem and Litecoin’s strong on-chain metrics reinforce the market dominance of these assets. Investors should closely monitor the positive macroeconomic developments that are expected to occur especially by the end of the year. As we reported at Kriptokoin.com , understanding the potential of Bitcoin and altcoin markets is critical to shaping investment strategies. Therefore, diversifying portfolios can create great opportunities.
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