Summary
- Wintermute said that without leading gains in major tokens, altcoins are unlikely to be strong.
- It said that while Bitcoin and Ethereum are showing steady trends, this rebound may be temporary.
- It emphasized that altcoin returns are more likely to rise alongside if Bitcoin approaches its all-time high.
As positioning in the crypto (virtual asset) market has been readjusted, investor sentiment has eased, but analysis says that without leading gains in major tokens, a strong showing by altcoins is unlikely.
On the 11th (Korean time), crypto market maker Wintermute said via X (formerly Twitter), "Since the sharp drop in October, positions have been cleared and market sentiment is improving. Also, U.S. President Donald Trump's stimulus measures are stimulating investor sentiment," it analyzed.
Wintermute added, "Bitcoin (BTC) was trading in the 105,000~107,000 dollar range, and Ethereum (ETH) was trading around 3,700 dollars, maintaining a steady trend despite exchange-traded fund (ETF) outflows."
However, Wintermute explained that this rebound may be temporary. The report said, "The market rise was concentrated in some assets such as Filecoin (FIL)," and "it appears to be relying on narrative-based short-term momentum."
It went on, "The closer Bitcoin gets to its all-time high, the more altcoin returns tend to rise together," and emphasized, "Currently Bitcoin is in a 16% decline from its peak, so the possibility of an altcoin season starting is low."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
