bullish

Solana

Strong

<ul class="wp-block-list">
 <li>Solana surged 17% from Friday's lows as profits rotated into altcoins, signaling a potential shift in market dynamics.</li>  
 <li>BTC dominance at 60% nears the 58% threshold, which could trigger altcoin season amid growing institutional and pro-crypto policies.</li>  
 <li>With positive momentum driven by a wedge breakthrough and increasing trade volumes, the cryptocurrency market cap exceeded its previous all-time high.</li> 
</ul>  
<p>The cryptocurrency market shows strength, with Solana leading after rising almost 17% from Friday's lows. This performance comes amid Bitcoin and Ethereum trading sideways, consolidating after upward movements.&nbsp;</p>  
<p>When major cryptocurrencies settle, altcoins have historically <a href="https://t.co/FZoZA43tTw" target="_blank" rel="noopener noreferrer nofollow">performed</a> better because profits shift to smaller-cap assets. The present dominance of Bitcoin is around 60%; a decline below 58% is anticipated to signal the beginning of a full-fledged altcoin season.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/WuBlockchain/status/1858704018933268902
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-solana-s-strong-rally-signals-altcoin-momentum">Solana’s Strong Rally Signals Altcoin Momentum</h2>  
<p>As the market is ready for a possible change, Solana's 17% gain demonstrates the increased interest in cryptocurrencies. Furthermore, SOL's performance demonstrates how, when major coins consolidate, profits frequently shift into smaller-cap cryptocurrencies.&nbsp;</p>  
<p>Moreover, pro-crypto sentiments <a href="https://cryptonewsland.com/winklevoss-twins-slam-bidens-crypto-stance-call-exclusion-petty/" target="_blank" rel="noopener noreferrer nofollow">surrounding the Trump administration</a> and anticipated Federal Reserve rate cuts add momentum. Investors speculate that these developments could propel the altcoin season into full swing within the coming months.</p>  
<p>BTC’s dominance plays a crucial role in determining market sentiment. At 60% dominance, the threshold for altcoin season nears. However, BTC remains well-supported, even amid last week’s net ETF outflows. Additionally, institutional interest continues to strengthen, with Japan’s <a href="https://cryptonewsland.com/metaplanet-doubles-down-%C2%A51-billion-bitcoin-purchase-fuels-growth/" target="_blank" rel="noopener noreferrer nofollow">Metaplanet announcing plans to purchase BTC</a> using funds from bond sales.</p>  
<h2 class="wp-block-heading" id="h-altcoin-market-cap-breakout-sparks-optimism">Altcoin Market Cap Breakout Sparks Optimism</h2>  
<p>The total cryptocurrency market cap excluding Bitcoin has broken past its previous all-time high (ATH). After consolidating within a descending wedge pattern, the market surged, initiating a strong bullish breakout near $1.05 trillion. Currently approaching $3.6 trillion, the market cap showcases consistent growth fueled by heightened trading volumes.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd5-tA1jLa5iHDeBnE8xMYmrrTK1CKHuzVgQS_FqlNQbmTMOH-ZVZxpYfHKhWjxpwnDl6t3VIPgR4LInxmDK0LCihW8lub3XW5DmNu-Wz4yN7RY0aseq5lBvU1ST8q_-NBLrhxxvQ?key=rLB8hxOqD-ZZtixlHOWucTgo" alt="">
</figure>  
<p class="has-text-align-center"><strong><em>Source:</em></strong><em> </em><a href="https://x.com/rovercrc/status/1858492100184260985" target="_blank" rel="noopener noreferrer nofollow"><em>Crypto Rover</em></a></p>  
<p>Furthermore, the MACD indicator confirms <a href="https://cryptonewsland.com/bitcoins-macd-bullish-crossover-nears-could-propel-price-above-100k/" target="_blank" rel="noopener noreferrer nofollow">sustained momentum with a bullish crossover</a>. The histogram bars have turned positive, signaling a strong upward trend. Additionally, this breakout aligns with historical patterns, often marking the onset of significant price rallies.</p> 
<p>The post <a href="https://cryptonewsland.com/altcoin-market-surges-as-sol-rallies/" rel="noopener noreferrer nofollow">Altcoin Market Surges as SOL Rallies and BTC Dominance Holds at 60%</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Altcoin Market Surges as SOL Rallies and BTC Dominance Holds at 60%

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