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When Alt-Season?!
Analyzing Bitcoin's current position in the market cycle.
Coinsauce
November 13, 2024
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• Bitcoin Dominance hits a new cycle high.
• South Koreans are all-in on crypto.
📕Educational :
• Analyzing Bitcoin’s current position in the market cycle.
Lets dive in.
📅 Today
Bitcoin Dominance Hits 61% 💪
Bitcoin Dominance hit a new cycle high of 61%. This indicates that 61% of all money in crypto is invested in Bitcoin.
Once this metric starts to fall, that would indicate profits from Bitcoin being rotated into altcoins, and thus altcoins would rally.
We expect BTC dominance to top out soon, between now and 65%, and for it to fall down a cliff till ~40-45% in 2025.
This would be a peak opportunity to capitalize on altcoin gains in the market, a window that opens only once in 4 years, infamously known as the “Alt-season”.
South Korea Loves Bitcoin ⚡️
Crypto trading volume in Korea surpasses local stock market by 85%.
Trading volume on UPbit reached $18.6 billion which does not include another $7.3 billion that was traded on Bithumb - the two largest Korean exchanges.
Overall, Korean retail traded more than $26 billion worth on spot exchanges while all local Korean stocks trade only $14 billion – that’s 85% more than stocks.
Since the Trump election, Dogecoin has been the coin with the most volume and traded $8 billion during the last 24 hours – or 57% of ALL the stocks in Korea.
Volumes of $18.6 billion on UPbit have eclipsed the $16.2 billion in early March.
This highlights rising interest for Bitcoin amongst retailers, a common trend in a Bitcoin bull market.
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🌎 Other News
📕 Educational
Where are we in this cycle currently?
Bitcoin bottomed 547 days prior to the 2016 Halving but topped in its Bull Market 518 days after the 2016 Halving
Bitcoin bottomed 517 days prior to the 2020 Halving but topped in its Bull Market 549 days after the 2020 Halving
Bitcoin bottomed 517 days before the 2024 Halving but may very well top in its Bull Market ~549 days after the 2024 Halving
That's October 2025
History suggests two takeaways:
1. The Halving acts like a mirror. Bitcoin Bear Market Bottoms occur a similar amount of days prior to the Halving compared to the amount of days its takes for Bitcoin to form Bull Market Tops after the Halving
2. The best of the Bitcoin Bull Market is yet to come
The bull run could go on till Q2 2025 if Bitcoin follows prior halving cycles.
Source : Rekt Capital
📊 Stat of the day
🤣 Meme of the day
That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!
Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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