While Bitcoin $108,207 is priced at $108,348 and altcoins are starting the day negatively, short-term fluctuations hold less significance. Long-term trends are more crucial, and despite the current status, Bitcoin’s price has continued to strengthen since BlackRock’s ETF application. Although altcoins haven’t yet met expectations, optimism surrounds potential growth as key levels are identified.
The Anticipated Rise of Altcoins
The anticipated altcoin surge hasn’t started yet, nor has the expected breakthrough occurred. Bitcoin continues its exploration phase towards this cycle’s true peak. Despite statements from Trump, Bitcoin finds buyers above $108,000 but needs to surpass even higher levels for substantial growth.
What about altcoins? They are patiently awaiting their time. Aside from a few exceptions, altcoins have not reacted to Bitcoin’s rise. DaanCrypto believes altcoins still have a long way to go.
“As BTC reaches new heights, we observe that the total altcoin market cap is still far from its peak. Although there has been a rebound, with some previous losses recovered, it remains over 30% away from all-time highs, which still trace back to 2021.”
The key horizontal level on the chart must be breached for altcoins to catch up with BTC. However, the BTC trend remains significantly stronger throughout the cycle.
XRP Coin in Focus
We are not far from the $1.27 trillion threshold, and a swift move past it could occur with ETH’s rise. Consequently, the real peak above $1.6 trillion will be anticipated. For BTC to witness a similar gain sequence, $3 trillion must be surpassed.
Pentoshi predicts that BTC will soon achieve new highs against Gold. BTC products have become the fastest-growing ETFs in history, surpassing even Gold’s launch pace, attracting billions in a shorter timeframe. Over $3 billion has flowed into these products in just the past seven business days.
Concerns about low weekend volumes and Trump’s successive negative statements are affecting XRP Coin’s price, pushing it towards support levels. A descent to the $2.3 to $2.28 range could occur soon. Typical weekend illiquidity is aggravated by the mention of abnormal 50% tax rates related to the EU, contributing to the expected downturn.
While Bessent anticipates a deal with the EU in a few weeks, Trump remains the antagonist, showing no intentions of negotiating. The steadfastness of the US is evident, and whether the EU will offer further concessions could impact the performance of risky markets over several quarters.
