The post Analyst predicts Bitcoin and altcoin bull run as FOMO returns appeared on BitcoinEthereumNews.com.

Markus Thielen, Head of Research at 10x Research, disclosed that the September rate cuts by the Federal Reserve and China’s stimulus have caused a new FOMO wave in the crypto industry. He noted that Bitcoin had surged 5%, Ethereum had risen 11%, and altcoins like SHIB, ENA, and SEI gained 36%, 51%, and 54%, respectively, since the rate cuts.        Thielen’s analysis revealed an altcoin explosion and an acceleration in stablecoin minting. Chinese OTC crypto brokers reported over $120 billion (~$20B per quarter) in inflows for the last six quarters. According to the report, $10B in stablecoins were issued within the last few weeks, flooding the crypto market with liquidity that significantly surpassed Bitcoin ETF flows. He added that Bitcoin’s break above $65K was probably the first step towards the $70K mark and maybe a series of all-time highs in the near future.       Analyst sees another Bitcoin and altcoin boom FOMO is Back: Are You Holding Enough Bitcoin and Altcoins to Ride the Next Wave? 👇1-11) Since the Fed’s September rate cut, Bitcoin has gained 5%, while Ethereum has surged 11%, and certain altcoins have seen impressive gains—+54% for ENA, +51% for SEI, and +36% for Shiba Inu.… pic.twitter.com/QK6hExh4lk — 10x Research (@10x_Research) September 27, 2024 Thielen’s report attributed the decline in Bitcoin’s dominance and the spike in Ethereum gas fees to a surge in altcoin activity. He claimed that the ‘DeFi renaissance’ was ignited by the 10-year bond yield drop below the 4.0% threshold. The report revealed that USDC minting indicated a rise in DeFi activity as YTD stablecoin inflows reached $35 billion, pushing the total stablecoin value to over $160 billion. The report declared that Circle disproportionately accounted for 40% of the latest stablecoin inflows. It also noted that South Korea’s retail crypto activity supported this trend as…

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Filed under: News - @ September 28, 2024 8:16 am