CandleFocus Altcoin Market Booms Post-Trump Victory, but Shakeout Fears Loom
2024-12-09
Author: Content Editor
The managing partner of Hartmann Capital, Felix Hartmann, predicts significant corrections in the altcoin market. He warns that once momentum shifts, there could be a sharp decline in prices. Hartmann points out that altcoins' funding rates are now high, and recent price movements have been driven by perpetual traders rather than spot market activity. However, some traders remain bullish, suggesting that altcoin season could extend into March. Historical patterns show caution, as cryptocurrencies like Solana and XRP experienced steep declines after reaching record highs. Bitcoin dominance, an indicator of altcoin season, has decreased in the past month. Rising funding rates for perpetual futures indicate leveraged optimism but could lead to reduced profits if prices stagnate.
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