Memecoin returns were 6x higher than crypto market average over past 30 days
Meanwhile, tokens related to AI, social, and data availability narratives registered negative performances in the period.
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Profit volumes in Bitcoin addresses are 47 higher than losses, while options show record in open interest levels.
Fundstrat's Tom Lee sees year-end rally as election uncertainty fades, while Bernstein predicts Bitcoin's resilience and potential growth to $200,000 by 2025 amid fiscal challenges.
The landscape is specially bad for altcoins, which need a catalyst to spark interest and propel a potential 'alt season.'
Bitwise CIO Matt Hougan believes that Bitcoin's potential rise to $200,000 hinges on dual forces, not a dollar collapse.
Bitcoin reclaimed key indicators and currently displays growing institutional appetite, which sets the stage for a potential 'euphoric bull run.'
According to CryptoQuant, a combination of strong institutional demand, increased whale activity, and favorable seasonal factors has created a bullish environment.