Cryptocurrency markets started the new week with a decline, and investors’ attention is focused on the future direction of market trends. In particular, the prospects for Bitcoin and other digital assets for 2024 are being discussed. Popular analysts evaluate current price fluctuations, while some note that bullish signals have not yet been clearly established. General market trends have become one of the main factors that attract investors’ attention.
Cryptocurrency analyst Anıl Evci drew attention to the differences between past cycles and current market movements. According to Evci, the expected rise period for risky assets has not yet begun. In particular, US economic conditions and the influence of former President Trump have led Bitcoin to experience a slightly more positive divergence from other assets. However, general market conditions are full of factors that limit the potential for price increases.
It is stated that major rallies are not expected for Ethereum and altcoins until the Russell 2000 index surpasses its former peak. This situation provides important clues about the long-term recovery process of the market.
Santiment, one of the crypto market analysis platforms, drew attention to new investors who panicked in the face of market declines. Analyzing the recent fluctuations in major assets such as Bitcoin and Ethereum, Santiment stated that new investors further reinforced the FUD (fear, uncertainty and doubt) situation caused by internal market conditions.
Santiment emphasized that while individual investors are panic selling, big players (whales and sharks) are seizing these opportunities and accumulating assets. Historical data also shows that such moves can often cause a market spike.
Although uncertainties in the markets continue, possible changes to the Fed’s interest rate policies are expected to contribute to the medium-term recovery of crypto assets. Analysts are cautiously optimistic for a more robust uptrend in the long term.