Altcoin Season Delay as Ethereum Dey Get Power, Pump.fun Meme Coins Rule Crypto Market
Even as pipo dey yarn say new altcoin season don land, top analyst Michaël van de Poppe dey insist say dis period—where altcoins dey do pass Bitcoin—never start. Even though Ethereum (ETH) dey show strong strong for technical side against Bitcoin (BTC), especially as e dey hold key support for ETH/BTC pair and e don form bullish structure, we never see am break up to 0.02884 BTC resistance. Until dat one happen, altcoins no go fit rally well well. Wetin dey make the market dull pass na big big economic wahala like high interest rates, money no dey too flow, and big companies don dey focus on Bitcoin through ETFs, so small small altcoins no dey see much money. Wetin pipo dey notice pass na say many small investors don carry dia eye and money go Pump.fun, wey be meme coin platform for Solana (SOL), wey don make $700 million since February 2024 and dem dey prepare for big token sale wey dem value am at $4 billion. Dis sudden rush of pipo wey just wan gamble on meme coins—wey normally no get any real value—dey different from how most established altcoins dey struggle, dem still dey suffer under bearish sentiment. In short, even though Ethereum technicals dey show say altcoins fit do well for future, as things dey now, na meme coin gambling dey hot, and traders suppose dey watch ETH/BTC movements and how market dey turn well well to see early signs of real altcoin cycle.
Neutral
Di tori we dem dey talk for news, di altcoin market get two-way road. One side, Ethereum dey show say e fit lead if e fit break di main level wey dey hold am against Bitcoin, wey fit mean say altcoins go gain well well for future. But di other side, di money no dey circulate go quality altcoins like e suppose, join with di way economy bad and people just dey rush buy meme coins wey get plenty hype, mean say altcoin go just dey chill for now. Di way Pump.fun don blow and di plenty money wey meme coin don make for Solana, just dey show say na retail people dey speculate, no be say altseason don really come. So, even if technical dey show say we suppose dey watch, di way market be now, e good make we just dey neutral until ETH/BTC break through or di money start to dey flow well well enter altcoins.