Altcoin Rally Gains Steam in July Amid Fading Fear

The cryptocurrency market has started July on a strong note, with investor confidence slowly returning after weeks of heavy selling.

Although Bitcoin briefly climbed above $64,000 before pulling back to around $61,933, several altcoins have continued to post strong gains. According to blockchain analytics platform Santiment, this suggests that capital is quietly rotating back into oversold altcoins as traders move past the fear that dominated the market in late June.

Santiment reported that several altcoins delivered impressive weekly returns: MemeCore led the market with an 89% surge, followed by Cardano (ADA) with a 25% gain. DEXE climbed 23%, while Bitcoin Cash (BCH) and WhiteBIT (WBT) advanced 22% and 20%, respectively.

Crypto analyst Michaël van de Poppe says Bitcoin appears to be either bottoming or moving through an accumulation phase, with the expectation of altcoins accelerating further as fear fades. He predicts that one to two months of strong momentum will follow before a correction in September or October, with another major rally likely during the fourth quarter.