Digital assets rallied on Friday as Bitcoin approached $99K.
Meanwhile, the substantial rebounds in the altcoin sector have triggered bullish bets from industry experts and analysts.
CryptoQuant founder and CEO Ki Young Ju believes the highly-awaited altcoin season has finally kicked off.
While he recommended DYOR, SUI seems ready for the upside party, with a potential breakout after consolidation hinting at explosive 160% gains to $8.9.
SUI eyes robust gains past $8
Sui’s current price action has attracted the attention of investors and analysts.
While the surging daily active addresses highlight demand resurgence, analyst CryptoBullet highlights a looming breakout on SUI’s 1D chart.
Source – CryptoBullet on X
The analyst pointed out SUI’s current consolidation beneath the 0.618 FIB level, which could trigger uptrends to $8.9, according to previous trends.
Meanwhile, the altcoin has touched the Fibonacci mark twice in the past few months.
Using previous trends, CryptoBullet expects SUI to touch new ATHs after overcoming the prevailing consolidation.
Meanwhile, the anticipated explosive move hinges on broad market sentiments.
Is altcoin season finally here? CryptoQuant CEO thinks so
The cryptocurrency community has long waited for the 2025 altcoin season over the past few months.
However, altcoins have failed to generate enthusiasm with short-lived recoveries, with Bitcoin consistently outperforming the market.
Nonetheless, CryptoQuant’s Ki Young Ju trusts the tide has finally shifted in the community’s favor.
The CEO believes that “a very selective alt season” has begun.
Alt season has begun.
No direct BTC-to-alt rotation, but stablecoin holders are favoring alts. Alt volume is 2.7x BTC. BTC Dominance no longer defines alt season—trading volume does.
It’s a very selective alt season tho. DYOR.
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While most analysts use BTC dominance to gauge an alt season, Ju highlighted that there’s no direct Bitcoin to altcoin rotation this cycle.
Unlike previous cycles where individuals used BTC as the base pair for trading altcoins, many have shifted to stablecoins like Tether’s USDT.
Ju confirmed that altcoins are outshining Bitcoin in trading volume, signaling trend shifts.
While a declined BTC dominance suggested an altcoin season in the previous patterns, the expert used trading volume to measure altcoins’ dominance.
Meanwhile, Sui is among the altcoins that are propelling the trading volumes.
Artemis data reveals increased trader interest in SUI, with consistent growth in daily active addresses.
Source – Artemis
The metric has consistently surged from 407.7K on February 8 to last November’s peak of 1.3 million.
The current 1.1 million presents SUI as among the fastest-growing networks fundamentally.
The impressive growth supports SUI’s potential breakout.
SUI price action
Sui trades at $3.42 after gaining more than 4% in the past 24 hours.
The increased 24-hour trading volume confirms the enhanced trader optimism in the alt.
The soaring active addresses showcase investor confidence in SUI’s ecosystem.
With the alleged underway altcoin season, SUI’s consolidation around 0.618 FIB hints at explosive rallies to $8.9.
However, Sui should sustain the prevailing momentum amidst broad-based rallies to attain such heights.
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