Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say that the total altcoin market cap is already rising, indicating bullishness for alts.
How much longer will altcoins trail behind before making their move? The Bitcoin narrative continues to steer the ship, but a closer look reveals the total altcoin market cap playing catch-up. With Ethereum and BTC leading the way, we are potentially on the brink of an altcoin surge.”
The founders also predict increased volatility for Bitcoin’s price but a rally continuation. They say that the crypto king could dip to the $40,000 level while remaining in an overall uptrend.
“BTC’s bullish momentum: navigating the uncharted journey to $46,000.
Despite the four-hour timeframe indicating BTC is overbought BTC’s upward trend may persist, intensifying investor FOMO (fear of missing out) across the board.
Technically, BTC navigates uncharted territory towards $46,000. Expect volatile moves between $40,000-$46,000. The 20-day EMA (exponential moving average) provides a safety net for potential pullbacks, making shorting risky. Current patterns hint at a climb towards $45,000.
Conclusion: stay alert, but optimistic. Yet the BTC’s momentum suggests more upside.”