We’re seeing one of those rare moments in crypto – Bitcoin is rising, and Bitcoin dominance is falling hard at the same time. That’s like spotting a unicorn renting a beachside apartment on Mars.
This move is largely being led by ETH, which I’ve been screaming was overdue for a breakout. To be fair, I’ve been early on that call... for a while now. But it’s finally happening.
ETH massively outpacing Bitcoin on a move like this is the clearest signal yet that an “alt season,” or something close to it, might be on the table. When ETH leads, the rest often follow. The rising tide lifts all boats – even the dead ones.
The dream scenario for altcoin holders? Bitcoin keeps climbing slowly or goes sideways, giving ETH and the broader altcoin market room to run. Confidence is returning, and for now, the rotation is real.
This move is largely being led by ETH, which I’ve been screaming was overdue for a breakout. To be fair, I’ve been early on that call... for a while now. But it’s finally happening.
ETH massively outpacing Bitcoin on a move like this is the clearest signal yet that an “alt season,” or something close to it, might be on the table. When ETH leads, the rest often follow. The rising tide lifts all boats – even the dead ones.
The dream scenario for altcoin holders? Bitcoin keeps climbing slowly or goes sideways, giving ETH and the broader altcoin market room to run. Confidence is returning, and for now, the rotation is real.
scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.