Journalist
Posted:
- The weak market sentiment from Crypto has been expanded to the new week.
- BTC could soon enter the next stage of the Bull Run, by Bernstein analysts.
Crypto expanded his weekend losses to the new week when market capitalization fell from $ 3.3 T to $ 3.15 T. That is a $ 150 B wiped from the market in three days.
In the same period, Solana[SOL] The hardest dumped. It lost 15% and slid below the press below $ 170. XRP followed with a decrease of 8% but was still above $ 2.5.
Source: Coinmarketcap
However, Bitcoin [BTC] fell by less than 3% while Ethereum [ETH] Only withdrew 2%and signaled strong performance during long -term weakness.
Libra deteriorates the market sentiment
The Cryptomarkt has been damped under macro ineituality but exacerbated by the Meme-coin scales’scam. ‘
Responding to daily market performance, Crypto Options Tradedesk, QCP Capital noted”
“BTC Dominance has risen to ~ 60%and reaches four -year highlights while #eth and other altcoins continue to find out. The recent $ Libra “Trug Pull” scandal involving the Argentinian President Javier Milei has further tempered the sentiment around Altcoins and Memecoins. “
Moreover, the advantage of BTC has been tucked up since the Havel -like interest rate of January.
Fed Governor, Patrick Harker recently maintained the Hawkish Stance. Harker called on to keep the interest rates stable until moderates inflation.
The Beerarish Druk held the King Coin under $ 100k for almost two weeks, but BTC Dominance (BTC.D) has shot more than 60%, so that the Rebound of Altcoins is further blocked.
It is interesting that analysts like Jamie Coutts from RealVision projected Another flush can probably be before BTC bounces.
“Now some solid protocols have fallen by 50-80%. Two weeks ago we had a decent rinse and high liquidation day. Sentiment is terrible. Probably see a decent flush. “
Despite the boring markets, Bernstein analysts led by Gautam Chhugani, a bullish calling for BTC in the medium term. The analysts said,
“The next stage of the Bitcoin -Bullmarkt is charging with a confluence of various positive catalysts … We believe that the crypto task force (led by David Sacks) is aimed at supplying the National Bitcoin Reserve, in the direction of the President. ”
They projected that the US sovereine Wealth Fund (SWF) BTC and other crypto could include reserve baths.