BTC’s recent moves and Bitcoin Dominance has been a rollercoaster ride. Breaking the six-figure barrier was a high, but it quickly snapped back with a 12% drop before finding footing near $95,000.
Now, the market seems to be leveling out, with analysts expecting smaller bumps and fewer nosedives. Meanwhile, the buzz of a potential alt-season has investors shifting their focus, ready to chase the next big push beyond Bitcoin.
Bitcoin Dominance Drops, Is Selling Done Too?
Bitcoin’s rapid plunge from $103,493 to under $93,000 earlier this month triggered $404 million in liquidations, shaking confidence across the market. However, recent data suggests sell-side pressure is easing. According to Bitfinex analysts, realized profit (RP)—a metric that tracks gains from moved coins—peaked at $10.5 billion during Bitcoin’s surge but has since dropped to $2.5 billion.
“This decline in realized profit indicates that profit-taking has significantly cooled, suggesting that future dips may be less abrupt,” Bitfinex analysts noted.
Funding rates on exchanges like Binance are also stabilizing, signaling reduced volatility and a market transitioning toward equilibrium.
Long-Term Holders Reaping Massive Gains
At 99Bitcoins, we expected people to profit from Bitcoin at $100k. Truthfully, anything past a six-figure BTC will not be in a straight line; it will be volatile as hell.
Long-term Bitcoin holders have an average realized price of $24,481—a staggering 400% gain. Despite the sell-offs accompanying Bitcoin’s climb to $100,000, this group retains significant profits. Some analysts argue this could lead to less aggressive selling, supporting price stability in the medium term.
However, not everyone shares an optimistic outlook. Glassnode’s lead analyst James Check expressed concerns about ongoing sell-side pressure outweighing demand from ETFs and institutional buyers.
“Sell-side pressure by existing holders is tremendous right now,” Check warned.
Is Alt-Season Upon Us?
While Bitcoin consolidates, altcoins make their presence felt by getting hit even harder. XRP was down 15% over the last day, and SOL dropped 8%. Historically, alt-seasons follow Bitcoin’s major rallies, with investors pivoting toward smaller, high-potential tokens. With Bitcoin dominance starting to wane, many altcoins are poised for a breakout.
Altcoins like JasmyCoin (JASMY) and Pepe (PEPE) have also demonstrated significant growth in recent weeks, with gains of 123% and 143%, respectively, over the past month.
Bitcoin’s consolidation and the rise of altcoins signal a reshaping of the crypto market. 99Bitcoin’s analysts foresee an alt-season by early 2025, fueled by institutional interest and broader blockchain adoption.
Crypto All-Stars: The Next Big Meme Coin Revolution
The countdown is on—nine days until Crypto All-Stars ($STARS) officially steps into the spotlight, and the crypto world is on fire. Last time we talked about this coin, it had $6 million locked up in presale; it’s now doubled that!
With over $11 million already locked in during its presale, $STARS has planted its flag firmly in the meme coin landscape. Investors are grabbing tokens at $0.0016782, hoping to cash in on staking rewards climbing as high as 336% APY. ClayBro, a YouTuber with 132,000 followers, claims Crypto All-Stars is primed to “shake up the entire meme coin space.”
At the heart of Crypto All-Stars is MemeVault, a staking engine that pools major meme coins like Dogecoin, Shiba Inu, Pepe, and Floki for rewards paid out in $STARS tokens. This multi-token setup is the first of its kind, laying the groundwork for a unified staking ecosystem.
Built on Ethereum, the ERC-20 $STARS token promises smooth integration with one of blockchain’s most trusted networks. The project allocates its supply strategically—20% for the presale, 50 stages of price bumps to reward early birds, and 25% each for staking rewards and MemeVault liquidity.
Early presale participants have already scored a 15% price gain, with tokens rising from $0.00138 to $0.0016061 in just a short period. Bolstered by audits from Coinsult and SolidProof, the project has solidified investor confidence. With over 4,100 users on Telegram and 17,000 X followers, $STARS has momentum. 99Bitcoins analysts are calling for the moon—predicting gains as high as 10x or 100x once the token launches.
GET IN On The Crypto All-Stars Now
EXPLORE: Elon Musk’s Hedgehog SHRUB Meme Coin Pumps +30%: Is This Best Animal Coin HODL?
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