Traders Rotate to Bitcoin Expecting a Quiet Q4 for Altcoins
Some traders anticipate the leading cryptocurrency to significantly outperforming the entire crypto market for at least the next several months.
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Bitcoin’s price has begun consolidating following its immense surge seen throughout the past 48 hours Yesterday afternoon, it rallied as high as $13,200 before it found any strong resistance that forced it lower Unlike the trend seen during fleeting upsurges, Bitcoin did not retrace that far into its recent rally following the rejection at these highs This indicates that bulls are in control of the asset at the moment and may indicate that further upside […]
WBTC burns picked up in November, continuing into December.
Bitcoin and the aggregated cryptocurrency market have been leading altcoins higher, with Ethereum showing some immense signs of strength as it once again breaks $470 The broader crypto market is getting stronger, as altcoins are now rallying in tandem with BTC or closely following it If this trend persists, then investor sentiment and risk appetite may continue growing, leading more investors to rotate capital into higher beta assets This possibility is already coming to fruition, […]
Bitcoin broke out of the $13,000 resistance level merely a week ago, which means those expecting Ethereum and altcoin prices to rise may have to wait a few months. Bitcoin (BTC) is sucking up the volume from the entire cryptocurrency market as it continues to rally. This is causing the alternative cryptocurrency (altcoin) market to pullback, which has seen rising selling pressure and low buyer demand.On Oct. 30, researchers at Santiment pinpointed the growing volume and dominance of Bitcoin, while Chainlink (LINK), Ether (ETH) and Binance Coin (BNB) struggled. They wrote:“The dominance....
The past 12 months have seen a veritable explosion in the number of alternative digital currencies, otherwise known as altcoins. The numbers for exactly how many altcoins are in existence vary depending on the measure. CoinMarketCap.com lists 554 cryptocurrencies at the time of writing - up from around 67 a year ago. According to some estimates, however, thousands of altcoins have seen some level of circulation since the bitcoin protocol first became available for use and adaptation. Many altcoins set out with legitimate uses, strong communities and active development teams. Some have....