The crypto market has started the new year with mildly bullish sentiment. The volume and money flow via ETFs on Ethereum triggered all other coins which have been staying highly undervalued. When we look at the bigger picture from outside, the only market that could not reach its expected potential seems like altcoins of crypto ecosystem.
Bitcoin has realized the prophecy of 100K but, meanwhile, alts have not shown any blow off top formation in the prices. What's interesting is that the prices of many coins are lower than the levels reached in March 2024, too! Even though there is an ongoing countdown to Trump's start to work, the invisible pressure on many projects is still too strong to keep the prices very low.
There are also good things happening to motivate the market in January.
The Bitcoin domination, which is believed to be one of the indicators of a possible Bitcoin run or altcoin run according to the trend, has broken down the rising wedge pattern; retested and got rejected from the previous S/R level.
This is really good for the altcoins as it signs that in a possible bullish atmoshpere in the market, the altcoins will be the ones which can attract more liquidity on themselves as the Bitcoin price seems to reach its tentative saturation level in the eyes of crypto investors.
I still hold some prerequisites before go 100% bullish
1- Ethereum will stay above $4K first then break the previous ATH
2- Tether case will not turn into a chaotic situation
3- Micro Strategy will not experience any legal issues
4- Trump will verbally direct the market positively
Overall, my humble expectation is to have a nice first half of the year while the second half can be hectic and painful for the risky markets. I'll be keeping my cautiously bullish sentiment for the first and second quarters but any time I feel a huge risk that can hit hard, I will be considering to increase my portion in the stablecoins.
What do you think about the move in the dominance of Bitcoin?
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Hive On ✌️
