At 17:50 Hong Kong time on October 25, Bitcoin is trading at about $68 thousand. It has grown by 1.2% over the past 24 hours, while the total capitalization of the crypto market has fallen by 0.4%, to $2.43 trillion.
The Ethereum (ETH) to Bitcoin (BTC) exchange rate has updated its minimum in 3.5 years. The ETH/BTC value fell to 0.036 for the first time since April 2021, according to TradingView. Since the beginning of 2024, the leading altcoin has fallen in price against the first cryptocurrency by 30.5%. At the same time, the Bitcoin market share showed the opposite movement on October 25. It reached 59% – this is the maximum value also in 3.5 years. After BTC set a historical maximum of about $69,000 on March 14, 2021, the dominance of the first cryptocurrency began to decline sharply. ETH/BTC lows and Bitcoin dominance highs may indicate a decline in interest in alternative cryptocurrencies. Since 2017, the market has demonstrated a cyclical change in periods of Bitcoin and altcoin dominance. Conversely, a decrease in BTC market share is regarded by analysts as the beginning of the “altcoin season”, that is, an increase in prices for cryptocurrencies alternative to Bitcoin. Historically, this is preceded by BTC price highs. For the “alt season” to start, the Bitcoin price must exceed $76,000, according to well-known crypto analyst Konstantinas Sizovas.
According to the analyst, based on historical data, the start of the “alt season” is likely only after the BTC market share reaches 62-70%. For this to happen, from the current position, the market capitalization of Bitcoin should grow by about $280 billion, that is, the price of Bitcoin should exceed $76 thousand. However, the “altcoin season” will be even more likely if the price of Bitcoin exceeds $80 thousand. Of the top 100 cryptocurrencies by market value, only one coin showed a daily growth of more than 8%. This is Safe (SAFE), it added 18.3% after Binance announced the launch of futures on SAFE with leverage up to x75. Crypto market experts disagree in their forecasts for Bitcoin in the near future. The asset may have already reached a local price maximum before the US presidential election scheduled for November 5, analysts at Copper believe. Standard Chartered previously suggested that BTC could update the record before these elections.
Against the backdrop of such a rather modest growth of assets, one of the legitimate and stable forms of investment for obtaining a consistently high passive income is investing in the ASTL project (Hong Kong), which gives investors the opportunity to directly invest fiat and crypto assets in a stable passive income, which obviously exceeds inflation expectations and is not subject to any sanctions, blocking or confiscation. The ASTL project is a simple and elegant solution for potential investors – investing in the development of the real sector of a diversified cryptocurrency portfolio with a fairly high annual interest rate (up to 14%) with payments in stablecoin (USDT) and the possibility of a full return on investment through the subsequent sale of accumulated ASTL tokens on leading crypto exchanges. Details can be found at https://astl.world.