Ethereum Leads Altcoin Surge with 8% Gain, Bitcoin Approaches $100,000

Ethereum Surpasses Bitcoin in 24-hour Gains

Ethereum has shown remarkable strength in the past 24 hours, with an impressive 8% surge propelling its price to $3,383.97. This surge comes on the heels of Bitcoin’s impressive performance, nearing a new high of $98,384.

Ethereum Market Cap and Volume Increase

Currently, Ethereum’s market cap stands at $407.61 billion, marking a noteworthy 7.73% increase, while its 24-hour trading volume has surged by 46.45% to $51.51 billion. These recent developments have garnered significant attention from investors, especially amidst the crypto market’s positive response to US President-elect Donald Trump’s supportive stance on cryptocurrencies.

Altcoin Season Speculation Grows

Despite the surge in altcoins, the anticipated Altcoin Season has yet to materialize. Investors appear cautious about fully embracing altcoins as Bitcoin inches closer to the $100,000 milestone.

Historical Performance and Market Trends

Historically, altcoins have performed well when Bitcoin consolidates after a substantial rally, with profits often flowing into smaller-cap coins.

Altcoin Season Index and Future Outlook

Bitcoin’s dominance currently stands around 60%, with analysts predicting that the altcoin rally could kick off once this dominance drops below 58%. The Altcoin Season Index sits at 33, indicating potential for further growth in altcoins.

Potential for Altcoin Rally

While Bitcoin remains a preferred choice for investors, altcoins are gaining momentum and could be on the cusp of a breakout. Will Ethereum’s recent performance pave the way for a broader altcoin rally? Is Altcoin Season on the horizon?