The global crypto market cap is now up more than 35 to 40% since the start of Q4 rising beyond $2.5 trillion. Bitcoin alone holds approximately $1.2 trillion of market cap. Total altcoin and DeFi market cap are on the brink of brake out.
Pundits across the market analyze the cash flow carried by Market momentum. Opine that Bitcoin’s potential halt after the bull run would ignite intense altseason followed by DeFi mania.
Bitcoin Price Would Gush Beyond $150k!
Bitcoin price on Thursday registered a new ATH of $66,630.The price is now experiencing a minute correction of around $63,000. However. According to crypto analyst Cryptobirb, the star crypto would continue to dominate the space until early December. The analyst highlighted potential target levels for BTC up to $150k.The chart shown by him further indicated that the asset could experience a decent correction of around $66,000 by late November.
Currently, the total BTC market cap is slowly differentiating itself from the rest of the crypto market. Besides, its counterpart Ethereum is already moving along with it with incredible gains. It is quite obvious that once the most valued asset starts consolidation, then the cash flow momentum could next shift to altcoins with a larger market cap. Interestingly, the chart indicated an accumulation of over $10 trillion market cap in the coming Altseason.
However, the Bitcoin bear market is said to begin in early 2022. On the other hand, the majority of the altcoins are expected to have a huge inflow of cash from the dominant asset during its correction. Meanwhile, traders could give rise to the bear market, resulting in the altcoin market cap drop of around $4 trillion.
Wait! Don’t Forget DeFi Season!!
While the global market cap is experiencing a minute correction, DeFi space dominated the crypto space with 6.30% profits in 24 hours. Popular crypto analyst Daan Crypto Trades spread the light on the DeFi sector which could bring significant profits once the altseason starts to blow. Meanwhile, the total DeFi market cap is on the verge of a crucial breakout, presently consolidating around ATH of $151.3 billion.
Collectively, another potential altseason is fast approaching. Once Bitcoin’s dominance moves sideways, Altcoins could start to boom in the next few days or weeks depending on their respective market holdings. Therefore, understanding precise cash-flow momentum and historical trader sentiments could be extremely entertaining and profitable in the crypto industry.