Analysts say Bitcoin is decreased – but does not depend on the Altcoin season yet

BitcoinThe maximum market is shrinking for other famous cryptocurrencies as US President Donald Trump continues to retract his one -day trade war. But this does not mean “Altcoin season“Just or lower, according to analysts.

They say that a modern axis of risks on the assets that have fallen ethereum The other altcoins may not last amid the constant uncertainty in the macroeconomic economy, and that investors can prefer the safest digital assets if the fluctuation arises again.

“When markets focus on macroeconomic instability and risk on the US dollar, Bitcoin is likely to rise,” said Zach Bandel, head of the Crypto Asset Manager, said. Decipher. “When the markets focus on all Blockchain and innovation applications that take place in Crypto, Bitcoin will decrease.”

As of Saturday, the Bitcoin market ceiling was higher than $ 2 trillion. The signs of Bitcoin dominate in the number of coins that follow, but they constantly appear BTC at the highest level of four years compared to any of the main altcoins or the entire field.

Tradingview data shows that among the top 125 cryptocurrencies depending on the maximum market, Bitcoin represents about 63.5 % of this market value combined. Earlier this month, Bitcoin dominated by 64.89 % on this scheme, which represents its highest level since January 2021. CONINECKO data, compared, appears Bitcoin dominance by 60.4 % Compared to all other coins in the market.

Over the past two weeks, the ETHEREUM price has risen by 36 % to about $ 2,485, as it exceeded the increase in bitcoin and made a small but noticeable dent in Bitcoin’s dominance, along with other Altcoins that also increased more than Bitcoin during this period.

Ethereum was among the digital assets that Trump’s preliminary efforts to reshape global trade decreased, with a decrease in the price of 45 % in the first quarter and decreased to less than $ 1500 in April, according to the Crypto Coingecko data provider.

Bitcoin benefited from its photography as an unpleasant origin like gold, with the greater part of the capital flows absorbed to encryption through products such as the money traded on the stock exchange-which was approved last year-PANDL.

During the previous market courses, the Bitcoin dominance decreased after its peak in prices and the rotation of the money traders to Altcoins, which tends to the risk curve – was at least one day the dominant myths of the industry. However, Spot Bitcoin ETF can conflict with this dynamic, as products that do not allow investors to reach alternative assets on the chain.

Bandel said the dominance of bitcoin is for nine to 12 months, the bitcoin hegemony is likely to reach about 60 % to 70 % of the total market, rather than moving sharply. He added that it is a difficult call, taking into account that Bitcoin and Altcoin have the distinctive winds that could be in play.

He said: “We are more or somewhat less clouds on Bitcoin for Macro’s reasons, and Altcoins for technological reasons and a relevant adoption.” “Assumption of my work is that we are attached to here.”

Juan Leon, the chief investment strategy of the Crypto Bitlise Asset, said, Decipher Bitcoin dominance reflects the appetite of investors the increasing risk. He said that the 90 -day Trump’s temporary suspension, along with low inflation, reduces the broader concerns about the slowdown in the American economy, while raising the hopes of discounts in prices from the Federal Reserve.

Low interest rates tend to take advantage of risk assets such as stocks and encryption due to the cheapest borrowing and increased liquidity. When the Federal Reserve Bank I cut off The costs of borrowing last year, encryption prices flourished, although this was before the election of the first “chief encryption” in America.

He echoed the feelings of Lyon Greg Majdini, the director of the derivatives of the Ambrata encryption provider, who was told Decipher The market was “a great recovery in the origins of risk throughout the week, [and] It was great for Altcoins. “

Majdini indicated that the price of gold has decreased with the progress of trade negotiations between the United States and China. He added that Bitcoin, who “trades a mixture of risk and” digital gold “, has lost the ground in front of Altcoins, which” is a pure risk play. “

Edited by James Robin