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Altcoin Market Suffers $100 Billion Swing

Written By: ChartChamp

July 5, 2024

After 17 days of sideways price action, the Altcoin market suffered a $100 downswing and has already rebounded by $50 billion. The daily candle is trending to have a bullish rebound, and I think we will climb back up to $600 billion market cap over the next few days. This feels like the final shakeout, and I think Altcoins could finally start their rally soon. We saw some similar price action for Bitcoin with a shakeout after the spot ETFs were approved. It took about 42 days for Bitcoin’s price to rally from $38.5k to $72k. I think we could see a similar quick rally for Ethereum and Altcoins after this recent shakeout.

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