The founders of crypto analytics firm Glassnode warn that altcoins could lose all bullish momentum following last week’s market correction.
Jan Happel and Yann Allemann, who have been on the social media platform for the past seven days.
According to Glassnode’s co-founders, unless Bitcoin reaches a key psychological price point, traders and investors will likely take a risk-off approach to altcoins.
“Is this the end of the altcoin season?
Bitcoin dominance surges after falling below $100,000 while altcoins lose key supports. Dominance has increased and resumed its uptrend, indicating a stronger BTC environment.
If BTC stabilizes above $100.00, we could see a rise in altcoins that are now in accumulation zones. Until then, Bitcoin appears poised to take the lead while altcoins lag behind.”
The Bitcoin Dominance (BTC.D) chart shows how much of the total crypto market cap is owned by BTC. In the current market situation, a rising BTC.D…
