Why Bitcoin price and volume rising together is bad news for Ethereum, altseason
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....
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Ethereum and the altcoin market are stagnating against Bitcoin with the ETH/BTC pair being the key to the next altseason. Ether (ETH), the native cryptocurrency of the Ethereum blockchain, has been lagging behind Bitcoin (BTC). Historically, when BTC surges, altcoins tend to rally with larger upside price movements.This time, Bitcoin has been clearly outperforming the altcoin market, particularly in December. BTC market cap dominance has recently risen to a one-year high of around 70%, largely due to the big sell-off in XRP in the past week. BTC/USD vs. ETH/BTC (yellow), LTC/BTC (orange),....
Ether (ETH) prices fell to a nine-month low on 5th December, building on the losses suffered in recent weeks. Ether, the digital asset used to power platform ethereum, reached $7, the lowest since 1st March, according to CoinMarketCap. The digital currency hit this price at 18:44 UTC, and then lingered at this price until rising to $7.01 at 19:01 UTC, CoinMarketCap data shows. Ether prices quickly mounted a modest recovery, rising to $7.10 by 19:10 UTC. Yet, ether experienced these price fluctuations amid modest volume, as 24-hour trading volume fluctuated between $13m and $14m when the....
Michaal van de Poppe, a top crypto analyst, has offered his thoughts on the prospect of a new altseason, highlighting three cryptos that appear to be primed for new breakouts. In a new video, Van de Poppe tells his 103,000 subscribers that despite the harsh late-May correction that saw Bitcoin tumble to $30,000, an altseason […]
BTC price is sliding closer to the $62,000 support, while UMA, WINk, KP3R and many other altcoins are shifting higher. The seesaw price action that the crypto market is known for is back on full display today as the modest gains Bitcoin (BTC) achieved over the weekend quickly disintegrated in the early market moves as the digital asset followed Tesla stock into the red. Fortunately, it's not all bad news for altcoin traders and this week kicked off with Cointelegraph Markets Pro’s Altseason Indicator suggesting that there is a 44% chance that an altseason is underway. Top 7 coins with the....
Ethereum has had a turbulent week as the price has shot up over the 0.006 BTC per Ether on strong volume pushing 35,000 BTC in a 24 hr period – twice. This has led to some quarters naming the price move as pump and dump, but is there something more fundamental taking place? News flow has always been the catalyst behind the bitcoin price surges and plunges – and Ethereum is and will be no exception to this rule. Although there hasn’t been huge news generated to spur on this price hike – so where is the price push coming from that managed to push Ethereum into the second spot in term of....