- Bitcoin (BTC) Buyers Saw 40% Gain on Average Last Year, Realized Price Shows
- Beverly Hills man charged in cryptocurrency scam
- Scientists raise alarm over ‘nightmarish’ issue stemming from cryptocurrency mines — here’s what’s happening
- Bitcoin Is Going to Be the Nail in Our Climate Coffin
- Cryptocurrency Surge: Rexas Finance Set for Massive Growth Amid Bitcoin Boom
Key Takeaways
- Most of the top 10 cryptocurrencies, excluding Bitcoin, have experienced growth in the past 24 hours.
- Bitcoin has broken below its short-term trend channel, suggesting weaker upward momentum.
- While many altcoins have outperformed Bitcoin recently, the market has not yet entered a full-blown Altcoin Season.
The cryptocurrency market has experienced mixed fortunes over the last 24 hours, with most altcoins gaining ground while Bitcoin retreats.
Bạn đang xem: Altcoins Surge While Bitcoin Falls, Sparking Altcoin Season Hype
Solana leads the charge among the top 10, while Virtuals Protocol tops the broader market with a 30% surge.
Investor sentiment remains bullish despite Bitcoin‘s weakness, as indicated by the Fear and Greed Index.
This comes amidst growing speculation about an impending Altcoin Season, fueled by the recent outperformance of many altcoins against Bitcoin.
Altcoins on The Rise
In the past 24 hours, all of the top 10 cryptocurrencies, except Bitcoin, have grown. Solana (SOL) saw the biggest gain, rising by 5%, while Cardano (ADA) saw the smallest increase, at 1.9%.
Xem thêm : Bitcoin Prices Surpass $100,000 For First Time In 2025 As Trump Rally Fuels Gains
Among the top 100 cryptocurrencies, Virtuals Protocol (VIRTUAL) posted the largest daily gain of 30%, while the memecoin Bonk (BONK) saw the smallest rise at 0.1%.
The Fear and Greed Index for the cryptocurrency market remained in the “Greed” zone, with a reading of 73 out of 100 on Dec. 24. This indicates that investors still maintain an appetite for risky assets despite Bitcoin’s decline in value.
Other top cryptocurrencies such as ETH, BNB, XRP, DOGE, ADA, TRX, and SHIB have all posted gains of around 2-3%, while AVAX, LINK, and SUI have jumped by 5-6%.
Since yesterday, the total cryptocurrency market capitalization has increased by approximately $20 billion, reaching over $3.46 trillion.
Bitcoin Retreats
Bitcoin has broken below the lower boundary of its short-term rising trend channel, indicating weaker upward momentum. The price is between support at $92,000 and resistance at $98,000, with a breakout from either level signaling the next direction.
Volume patterns don’t align well with price movements, weakening the currency, and negative RSI divergence suggests a potential downward reaction. Bitcoin is considered technically neutral in the short term.
In the medium to long term, Bitcoin remains in a rising trend channel, signaling positive momentum and increasing investor interest. The price has surged since breaking resistance at $67,241, reaching the target of $84,547, though the formation suggests more upward movement.
Xem thêm : SoCal pair charged for allegedly defrauding investors out of more than $22 million in cryptocurrency
Support is at $70,000, with resistance at $106,000. Low volume at price peaks and high volume at troughs could signal a trend reversal. Bitcoin is assessed as neutral in the medium to long term.
In the long term, Bitcoin is showing strong growth within an upward trend channel, indicating continued optimism and potential for further rises.
The price has risen since breaking resistance at $67,241, reaching $84,547, with no visible resistance ahead. Support is at 72,000, and Bitcoin is considered technically positive for the long term.
Is Altseason Near?
The cryptocurrency market operates in cycles, with Bitcoin often leading the way. However, when altcoins begin to outperform Bitcoin significantly, an “Altcoin Season” emerges. Over the past 90 days, many altcoins have shown impressive growth against Bitcoin, signaling a shift.
Altcoin season is typically defined when 75% of the top 50 coins outperform Bitcoin over the past 90 days, excluding stablecoins and asset-backed tokens. Although the crypto market has been trending lower, altcoins have reached key support levels, suggesting a potential bounce.
Recently, Bitcoin dominance has been recovering, with key resistance around the 61.8%-78.6% Fibonacci levels. A reversal at this level could weaken Bitcoin further, increasing altcoin dominance.
Despite some altcoins outperforming Bitcoin, we are not yet in full Altseason, though many altcoins have shown substantial gains.
Was this Article helpful?
Nguồn: https://gapinsurance.click
Danh mục: News
