Ethereum, XRP, SOL Surge After GENIUS Act: What’s Driving The Altcoin Rally?
The altcoin rally may only be getting started and follows the signing of the GENIUS Act, the most significant U.S. crypto legislation to date, ushering in structural clarity for digital assets.
Speaking with Benzinga, Illia Otychenko, Lead Analyst at CEX.IO, identified three critical technical and on-chain signals driving the breakout.
“Net Taker Volume flipped positive, showing renewed buy-side aggression after months of seller dominance,” Otychenko said.
He also noted that long-term holders are moving from accumulation to distribution, a phase that has historically coincided with Bitcoin’s steepest rallies.
Combined with a recent Golden Cross, where the 50-day moving average crossed above the 200-day, Otychenko said Bitcoin could see a short-term rise to $132,000 and as high as $170,000 by the end of Q3.
These …
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