Summary
- "Despite Bitcoin's decline, there is a claim that the outlook for altcoins remains positive."
- "As Bitcoin dominance declines, it was stated this could be positive for Ethereum (ETH) and altcoins."
- "It was mentioned that the altcoin rotation cycle is still valid."
Despite the decline of Bitcoin (BTC), it has been claimed that the outlook for altcoins is positive.
On the 18th (local time), Negentropic, the co-founder of Glassnode, stated on X, "Despite Bitcoin's decline, altcoins have shown resilience," adding, "This is a strong signal that the altcoin rotation cycle is in progress."
He further commented, "Bitcoin is testing $113,000, and its dominance is falling," and noted, "This could have a positive effect on Ethereum (ETH) and altcoins." He concluded, "The altcoin rotation cycle remains valid."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
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