Ethereum (ETH) is currently showing signs of waning momentum, pushing investors to seek bullish prospects in the altcoin market. Even with Bitcoin dominance quite high, many altcoins are getting attention, driven by higher liquidity and bullish on-chain indicators.
Ethereum, for what it’s worth, is now trading just above $2,452 and fighting hard to hold onto a key bullish uptrend after some major positive news. Analysts are now warning of a potential retest of the $2,000 level if bearish pressure persists and buying volume remains low. The second-largest cryptocurrency is flirting with a move down to the psychological rug of promise – and peril – of $2,000.
Bitcoin’s dominance over the rest of the crypto market is currently above 65% — a level not reached since early 2021. Historical patterns show that when Bitcoin is in a consolidation period, capital begins to rotate back into altcoins like Ethereum.
The altcoin season index is bullish, indicating a favorable environment for altcoins. Many analysts are of the opinion that the market rotation is not just the Ethereum movement.
"A higher low on the Total 2 chart…is often seen as a bullish signal, suggesting that investors are stepping in to accumulate altcoins at increasingly higher price levels." - Analyst
Among these projects making waves one that stands out is Mutuum Finance, a low-price, undervalued DeFi crypto project. Mutuum Finance has quickly become a hit, successfully raising over $11.7 million with more than 12,700 investors flocking to its new platform. As of writing, more than 60% of Stage 5 of Mutuum Finance has already sold out at only $0.03. As part of their promo event, Mutuum Finance is giving away $100,000 MUTM tokens to ten winners.
With liquidity conditions in the macro improving and continuing to support some favorable on-chain metrics, we should see continued altcoin gains strength as 2025 approaches. The investment focus is changing. This amendment is indicative of the broader, rapid, and unpredictable nature of the cryptocurrency industry, characterized by investors’ constant search for better returns and diversification.
