Bitcoin has experienced a temporary stop at around $119,000 after a pullback triggered by traders taking profits. New analyses suggest this is only a short-term setback.
Bitcoin's Consolidation and Shift to Altcoins
After a sharp rise to $116,000, Bitcoin saw a pullback but subsequently rebounded above $119,000. Analysts noted that capital rotation is actively occurring, particularly in favor of Ethereum.
Signals Indicating Further Bitcoin Growth
According to analyses, Bitcoin remains in a transition phase and its current correction does not indicate an end to its upward movement. Research showed that the current rally has not reached its peak, suggesting further price increases may be expected.
Market Analysis by SwissBlock
The analytical firm SwissBlock in its report ‘Altcoin Vector’ confirmed that capital rotation is occurring within the market, while Bitcoin continues to hold its positions. The increasing ETH/BTC also indicates that Ethereum is attracting liquidity, which supports interest in other altcoins.
Despite the short-term correction, Bitcoin shows signs of continued growth, while capital is rotating towards Ethereum, indicating a potential continuation of positive dynamics in the cryptocurrency market.
