Is the altcoin Christmas carnival approaching? Glassnode co-founder interprets key drivers!
This year's 'Christmas market' may be led by altcoins! Glassnode's co-founder bluntly states: the trend line of Bitcoin's dominance (BTC.D) has been rejected, which may signal that altcoins are about to take over!
1. Bitcoin consolidating above $100,000: If BTC stops its 'solo performance', funds are likely to flow into the altcoin market, igniting sector movements.
2. Year-end sentiment ignited: From late December to the beginning of the new year, funds may pour into altcoins, leading to performance surpassing Bitcoin.
Why is Bitcoin 'stuck'?
Long-term holders (LTH) have seen their holdings drop to annual lows; the selling pressure and profit-taking at year-end have become obstacles for BTC to break through the $100,000 mark. However, Glassnode believes the selling pressure is depleting, and a reversal may come in early 2025!
Bitcoin's 'short break' may actually celebrate the carnival of altcoins! Especially under the conditions where BTC.D bearish signals are confirmed, the potential for sector rotation deserves high attention.
Will the 'Christmas miracle' of altcoins arrive as scheduled? Don't blindly FOMO; choosing coins still requires looking at logic and potential. Are you ready to chase this holiday market?
Follow Uncle Qian and let's uncover the secrets of sector rotation in the bull market together!
