A strategic of the upper crypto claims that the money invested in Bitcoin (BTC) is unlikely to turn in the Altcoin market at the levels observed in previous cycles for a key reason.
The pseudonym analyst The Flow Horse indicates to its 259,500 subscribers on the X social media platform that many Bitcoin investors who now contribute to its high performance are unlikely to move the benefits in alts.
He says that the massive purchases of Michael Saylor de Bitcoin and those who invest in funds (ETF) negotiated in exchange for Bitcoin are main bruise catalysts for the flagship crypto of this cycle. However, he thinks that these entities will not rotate their profits in alts.
“The money that bought and is responsible for moving Bitcoin is fragmented away from this market. They are ETF and Saylor. Most people here jumped into alts thinking that this flow would follow, in the meantime, it is on IBKR (Electronic Trading Interactive Brokers) and Thinkorswim (trading platform). The structure of the market has changed, adapts or die. »»
He previously declared that another reason for which there will be no season in Alts-season where altcoins surpass bitcoin is that there are now more digital assets than previous cycles and not enough liquidity To go around.
“The idea of Alts-season is like these rotations that occur and they will be more concentrated. But a rising tide simply does not happen. It just doesn’t happen. There is too much waste and there is not enough money to go around to lift it. »»
The analyst keeps an eye on the Bitcoin Dominance graph (BTC.D), which is currently 59.88%. Traders use BTC.D to follow if altcoins surpass bitcoin because metric calculates the share of the market capitalization of the BTC crypto.
Finally, the merchant suggests that Dogwifhat (WIF) could prepare for a break after a severe correction, lowering below $ 1.
“To be honest, if there was a place to take a hit on WIF, it’s probably here. Study the prices retraction in the list of binance points. »»
WIF is traded at $ 1.18 at the time of the editorial staff, up 9.9% in the last 24 hours.
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