Bitcoin (BTC) Slips as Altcoins Surge: Experts Predict Crypto Shift Amid Looming Ethereum (ETH) ETF Launch
Altcoins have started to gain momentum as Bitcoin faces selling pressure indicating a shift in the crypto space. According to analysts and crypto experts, several altcoins have already appreciated by 10% against Bitcoin. This trend is expected to continue, suggesting a rotation from Bitcoin to alternative crypto assets.
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Bitcoin Dominance Set to Decline
Karan Singh Arora highlighted that the Mt. Gox news has contributed to the selling action for Bitcoin. He believes this creates an opportune moment to focus on altcoins.
“For every dump $BTC takes, Alts are doing the Opposite. Some are already up 10% against Bitcoin,” Arora noted.
This sentiment is echoed by other experts who predict a bearish cross in Bitcoin’s monthly MACD dominance, traditionally leading to an altcoin uptrend.
Analyst 𝕄𝕠𝕦𝕤𝕥𝕒𝕔𝕙𝕖, pointed up the imminent bearish cross of Bitcoin dominance as a key indicator. “The clock is ticking, Ladies & Gentlemen. It won’t be too long before the monthly MACD for the BTC Dominance crosses bearish,” he tweeted.
Historical patterns suggest that such crosses result in strong altcoin performance, prompting many to take long positions in altcoins.
Read also: Kaspa (KAS) Poised for Major Breakout: Analyst Predicts $0.40 Target
Market Conditions Favor Altcoins
Jelle observed that altcoins are performing well while Bitcoin struggles. Besides, he pointed out that Ethereum ETFs are expected to go live soon, further boosting market optimism.
“#Altcoins again green while #Bitcoin is red on the day. ETH ETFs expected to go live in ±1 week. Stars are aligning for a relief period,” he commented.
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Show more +Expert Predictions on Altcoin Surge
Michaël van de Poppe has made a forecast regarding the altcoin market. He believes that the current downward trend for altcoins is approaching its conclusion. Van de Poppe anticipates a major shift in investment patterns, predicting that funds will move from Bitcoin to altcoins in the coming weeks.
Moreover, he suggests this transition could begin as soon as next week or the week after. This prediction implies that a period of increased risk appetite for altcoin investments may be on the horizon.
The crypto community anticipates an altcoin surge, fueled by Bitcoin’s struggles and favorable market conditions. Key indicators, such as the bearish cross in Bitcoin dominance and upcoming Ethereum ETFs, support this outlook.
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