I saw that Bitcoin reached $81.29K this week but couldn't maintain the momentum. It only increased by 0.39% in the last 24 hours while others are declining—ETH down, SOL down, XRP slightly up. This type of market movement seems to be just typical profit-taking, not an organic bullish sentiment for the entire altcoin ecosystem.



The weird part is the 47 straight days of negative funding rates in the derivatives market. This means many traders are still shorting even as the price rises. This isn't the typical bull run you see—it's concentrated mainly on Bitcoin, while others are struggling. Plus, the geopolitical tensions in Iran and the US add uncertainty to the overall market sentiment.

So basically, if Bitcoin drops below $76K, that will be the peak for this cycle unless there's a major positive development in the Iran situation or a real shift in market participation. For now, it seems more like consolidation rather than a strong breakout.
BTC-0.06%
ETH-0.86%
SOL1.22%
XRP0.88%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin