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Major altcoins like Ethereum (ETH), Fartcoin (FARTCOIN), and Hyperliquid (HYPE) are gaining traction among investors, hinting at a June market resurgence.
BTC's correlation with the Global M2 money supply suggests a potential price target of $150,000, fueling bullish sentiment for altcoins.
Ethereum whales have strategically accumulated 139,476 ETH worth $365 million, indicating confidence in future price increases.
As the crypto field is poised for a potential rebound, major altcoins like Ethereum (ETH), Fartcoin (FARTCOIN), and Hyperliquid (HYPE) are becoming choice’s of major crypto whales. The smart money’s move for these assets, is fiercely hinting that a market resurgence in June, seems more likely then ever.
Similarly, the top crypto BTC also showered optimism, as its spot ETFs faced three consecutive days of outflows, and data from Santiment shows that whales have a worth of over $8.3 billion, just last week.
Meanwhile, its strong correlation with the Global M2 money supply has increased experts’ conviction for its price to hit $150,000. These growing bullish factors suggests that the next crypto sector’s brewing alt season could be even more parabolic than previous cycles.
As, BTC aside, Whales are stacking altcoins in anticipation of a rally. In late May, the sector saw a slowdown, but this dip has not deterred major investors, who are seizing the opportunity to accumulate promising altcoins. Keep reading as crypto whales are setting the stage for a significant shift as we have moved already into June.
Ethereum (ETH)
According to data from Lookonchain, a crypto whale utilized Galaxy Digital’s OTC wallet to obtain 108,278 ETH, amounting to $283 million. Before several hours of this move, this whale had already withdrawn 89,000 ETH, amounting to $233 million. Now, all combined 139,476 ETH amounting to $365 Million in total sits in a wallet address “0x0b26”.
This move is not any reckless move, the way address moved his assets clearly showed a well-devised accumulation strategy that has been made for future increase in Ethereum’s price.
Additionally, on the daily chart, the ETH price is above major EMAs and seems the Fibonacci 50% zone is set to break in June for the Fibonacci 78.6% and 100% targets (Q4 2024’s High).
Fartcoin (FARTCOIN)
Apart from the second most dominant crypto, which has attracted significant attention from Crypto whales, is Fartcoin (FARTCOIN).
According to data from Lookonchain, three whales purchased 9.2 million FARTCOIN, amounting to $9.5 million, showing a highly optimistic vision for FARTCOIN’s growth potential.
At the time of writing, FARTCOIN is trading at $0.8910, down 5.7% over the past 24 hours. However, some traders remain quite optimistic after knowing the whale’s activity, the long-term price of this meme could go to the Fibonacci 100% level around ATH $2.7321, but a crash would lead to its lowest demand zone.
Hyperliquid (HYPE)
The recent surge in HYPE is due to the hype around a trader named James Wynn on Hyperliquid and the BINANCE listing announcement.
Amid this optimism, data from OnchainLens highlights that one crypto whale spent an amount worth $6 million over a consistent three days to buy over 170,000 HYPE.
Taking into account all bullish factors of recent times, the participation of large investors has increased, which indicates strong confidence in the HYPE price’s long-term potential. Per the Fibonacci, if ATH is broken, then $58 is likely next.
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FAQs
An altcoin season is a period when most altcoins (cryptocurrencies other than Bitcoin) significantly increase in value, often outperforming Bitcoin.
Key indicators include decreasing Bitcoin dominance, increased trading volumes for altcoins, and capital rotating from Bitcoin into altcoins.
Despite recent Bitcoin ETF outflows, the market shows growing bullish factors, with whales accumulating altcoins, hinting at a potential market resurgence
Yes 
No 
