Here’s Why Altcoins Are Your Gold Mine In This Bull Run

The crypto market cap surged over 3% in the last 24 hours, reaching approximately $2.5 trillion on Tuesday during the early European session. Bitcoin (BTC) saw its price rise by around 3% to hit $65,000 before slightly retracting to $64,400 at the time of this report.

Bitcoin’s price resurgence saw it reclaim both the 50- and 200-day Moving Averages (MA), establishing these as critical support levels. This notable rebound in Bitcoin’s price also positively impacted the entire altcoin market, with Ethereum (ETH), Solana (SOL), and BNB leading the charge.

Understanding the Market Surge

The crypto market’s movement has been influenced by the recent failed assassination attempt on pro-crypto U.S. presidential candidate Donald Trump. The fear and greed index spiked to around 65%, indicating a rise in market greed as Bitcoin’s price rallied above $64,000.

U.S. spot Bitcoin ETFs, spearheaded by BlackRock’s IBIT, recorded over $1 billion in cash inflows last week, with an additional $300 million on Monday alone. Concurrently, rumors suggest the U.S. SEC has approved several spot Ether ETFs to begin trading by Tuesday, July 23.

Altcoins Offer Promising Opportunities

In recent months, the altcoin market has provided a lucrative opportunity for long-term investors. Veteran trader Peter Brandt and other analysts predict the crypto industry is poised to enter a euphoric phase following a 20-40% correction over the past four months.

According to the crypto intelligence platform Santiment, investors should focus on altcoins showing increased address activity to maximize potential returns. Santiment identified Render (RNDR), Aave (AAVE), and Maker (MKR) as the most promising altcoins due to their notable rise in address activity recently.

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