Are Altcoins Making A Comeback?

Investors,

The crypto market is extremely contentious right now, with a significant divergence between bulls and bears. Most altcoins are down -50% to -70% from their YTD highs and a handful have erased their gains since October 2023.

It has been a brutal environment for crypto investors who have moved further out onto the risk curve beyond Bitcoin, Ethereum, and Solana.

On the other hand, the latest resurgence in Bitcoin over the past few weeks has produced a wave of upside along that risk curve, particularly in an environment where the stock market continues to experience further upside as well.

Since early August, a handful of altcoins have doubled or even tripled in price.

Many altcoins, if not most, are up more than +50% over that same time period.

Just over the past week, we’ve seen individual coins gain +30% to +50%.

This begs the question, can this momentum thrust over the past 1-3 weeks continue?

In other words, “is this resurgence sustainable and has it cleared enough bearish hurdles to continue chugging higher?”

The purpose of this report is to answer this question by analyzing 20+ altcoin charts.

In addition, I will also cover key data for the stock market and share a variety of miscellaneous charts that I saw during the week that I think you need to be aware of.

Before we kick things off, I’d also encourage everyone to read this S&P 500 analysis that I posted on X on Sunday morning.