"Christmas miracle!!! Glassnode co-founder points out the three key factors that drive the rise of altcoins"
Glasnode co-founder pointed out that the Christmas market of altcoins may be brewing. Analysis shows that Bitcoin dominance (BTC) shows bearish signals, which has provided an opportunity for altcoins to rise. The main points are as follows:
BTC sideways is the key: Bitcoin needs to stabilize above $100,000 to make room for altcoins. If BTC enters a sideways consolidation phase, market liquidity may tend to small and medium-sized market capitalization currencies.
End-of-year earnings diagram: The sharp rise and market retracement in the second half of December may provide start-up conditions for altcoins.
In addition, the selling pressure of long-term holders (LTH) of Bitcoin has broken through the bottom peak. Although this round of capital breakthrough has put BTC under short-term pressure, it may become a "compression spring" at the beginning of 2024. If the adjustment ends at the end of the year, both Bitcoin and altcoins may see exciting new structural increases.
Are you ready to stand firm before the wave of altcoins comes? Welcome to lock in Jiaoshou to help you grasp the market direction and accurately lay out every step!
