- Bitcoin dominance continues to fall as altcoins take over.
- Altcoins like Stellar Lumens show strong pump signs of over 471% this altseason.
- Analyst says $8 cycle top for XLM price is highly possible.
Bitcoin’s price declines further, dropping from $96,000 to $94,000, and pulling the overall market sentiment down with it. The Crypto Fear & Greed Index has fallen to a score of 72, reflecting a reduced ‘Greed’ sentiment in the market. This shift has contributed to a continued decline in Bitcoin’s dominance over the crypto market.
Bitcoin Dominance Wavers, Altcoins Earn Attention
Despite the downturn, analysts remain confident that Bitcoin will rebound, projecting a steady recovery that could lead to new all-time highs between $110,000 and $200,000 in the upcoming year. However, with Bitcoin’s dominance waning, attention is shifting toward altcoins. Many experts predict that as BTC dominance decreases, altcoins will seize the opportunity to gain ground and potentially reach new highs in 2025.
Analysts are certain if the next major altcoin rally beginning in January 2025. This anticipated bullish phase of the ongoing altseason is expected to be led by Ethereum (ETH), the pioneering altcoin. While some altcoins have already achieved all-time highs in recent months, others are showing strong indicators of significant price surges on the horizon.
$8 XLM Cycle Top Prediction Gains Momentum
To highlight, one such asset is Stellar Lumens’ XLM. As we can see from the post above, this reputed analyst expects to see greater pumps ahead for XLM price. In detail, he says that based on the altcoin’s Fib Extension Levels and past ‘full bull’ performance, XLM can be setting up for a surge into the $2.12058 price levels hinting at another 471% pump. If this plays out XLM price could very well hit $8 this bull cycle.
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