Chain analysts warn: Bitcoin soars, Ethereum to break through, counterfeit products may repeat the market

According to the latest analysis by on-chain analyst TechDev, the current market pattern is highly similar to that of early 2021.

Bitcoin (BTC) is going through its 5th week of price discovery.

 

Ethereum (ETH) is only 20% away from its historical high and ready to go.

Dogecoin (DOGE) entered a consolidation state after rising.

Bitcoin dominance rate (BTC. D) is showing a downward trend, and funds may be transferred to the counterfeit products market.

At the beginning of 2021, similar market signals triggered a large-scale bull market for counterfeit products in the next four months. Now in December 2024, this scene may happen again, and the market trend is worth paying close attention to. A new round of counterfeit products may be brewing.