Analyst: The Altcoin market is gradually climbing but will not directly enter the altcoin season.

2024-12-14 08:53:59

CoinVoice has learned that, according to Cointelegraph, Ben Simpson, founder and CEO of Collective Shift, analyzed that if the proposed acquisition of 5% BTC supply by the US government, put forward by Senator Lummis, is approved, the market is expected to become unstable. BTC will pump and then may fall back.

As for the current market situation, Ben Simpson believes that the dominance of BTC (an indicator of the proportion of BTC in the total market value of the cryptocurrency market) will 'begin to decline', and as BTC begins to consolidate around $100,000 and altcoins start to 'rise', the market 'rotation' to altcoins has actually begun, but it should not directly enter the so-called altcoin season. [Original text link]

BTC1.41%

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