Discussions between the US and China in London have attracted attention to financial markets, and experts are predicting a potential rise in altcoins.
Decline in Bitcoin Dominance
At the time of writing, Bitcoin was trading at $108,750, while analyst Poppe notes that Bitcoin's dominance may be starting to decline. The BTCD chart indicates that Bitcoin has failed to hold above the second resistance level, potentially foreshadowing a drop in its market share.
Outlook for Altcoins
If Bitcoin dominance continues to decline, altcoins may begin to recover the positions they held last year. Poppe claims, “There’s a strong downtrend in Bitcoin dominance, indicating a return to the decrease trend.” This scenario could pave the way for altcoins like Ethereum, which is forecasted to reach $3,500.
Overview of BTC and ETH
Bitcoin prices are rising, partly thanks to improved relations between Elon Musk and Donald Trump, as well as renewed negotiations between China and the US. However, analyst DaanCrypto emphasizes the need for caution: “I’m reevaluating my plan for this month... If the price remains steady, my confidence in a bull run will grow.” Meanwhile, another analyst, Yoddha, expressed optimism for the future of altcoins, predicting new highs for Ethereum.
Considering the current market trends, there is a likelihood that the decline in Bitcoin dominance will open new opportunities for altcoins, as supported by the opinions of several analysts.
