A wave of euphoria is sweeping through the crypto markets. Ethereum Classic, XRP, Litecoin, Bitcoin Cash, Dogecoin… These seasoned players from the 2017 bull run, long ridiculed or forgotten, are exploding once again. And it’s not just a weekend pump: the numbers are there, massive, driven by a real capital rotation after Bitcoin’s new ATH.
Ethereum Classic Leading the Pack
+20% in 24 hours. That’s the sudden performance of Ethereum Classic (ETC), breaking a major technical resistance at $20.27 to surge towards the fateful $25 zone. This is not a bot pump, it’s a tsunami of real capital with volumes soaring (+212%), almost reaching $756 million in a day.
Resurgence of Altcoins from the 2017 Era
Litecoin, Bitcoin Cash, Dogecoin, XRP… All the big names from the pre-DeFi era are making an unexpected comeback. Litecoin benefits from the announcement of a $100 million LTC fund launched by MEI Pharma, with Charlie Lee himself joining the board of directors. BCH and DOGE are riding the wave of bullish sentiment and short liquidations.
Even UNI from Uniswap, though younger (launched in 2020), joins the party with +20% and a volume exceeding $1.7 billion. The token breaks resistances at $8.11 and $10.33, already aiming at $12, a key level rejected several times in 2024.
Altcoin Season or Swan Song?
The question on everyone’s mind: a simple tactical rotation or a disguised end of cycle? Both scenarios are on the table.
The optimistic scenario rests on a healthy dynamic: traders lock in their BTC profits and reinvest them in altcoins, sector by sector. Technical signals confirm this bias: multiple breakouts of old resistances, a surge in volumes, and sharply rising open interests.
But the downside exists. If Bitcoin were to break below $110,000, the market could enter purge mode. Because a significant portion of altcoin positions are now leveraged. DOGE shows $2 billion in open interest (+30%), UNI climbs to $389 million (+35%). In case of a reversal, these positions would be the first to be liquidated, amplifying losses and triggering a domino effect.
Only Bitcoin Can Prevent a Meltdown
Once again, the key is Bitcoin. A confirmed move above $124,000 would be the green light the altcoins need to continue their ascent. On the other hand, a violent rejection below $110,000 would trigger a cascade of forced selling.
In other words: the ‘dino coins’ are back… but their survival still depends on the king Bitcoin.
