[Analysis] "Altcoins take a direct hit from Bitcoin's decline... Pattern indicates room for a rebound"

The price of Bitcoin (BTC) has fallen below the $110,000 level, putting significant pressure on the altcoin market. However, some say that, based on past cases, early bottom signals are appearing across the market.

On the 27th (local time), crypto asset (cryptocurrency) specialized media CoinPotato reported that market analysis firm Altcoin Vector said, "The market phase has ended 79 days of an Ethereum- and small-to-mid-cap altcoin-led rally and has returned to being Bitcoin-centric." Ethereum (ETH)'s uptrend lasted a total of 68 days, and its price surged from $2,200 to $4,900. However, the firm added, "This cycle does not mean that the altcoin rally is completely over."

Cryptocurrency analysis firm Swissblock said, "The current market is in a reset phase," and reported that the 'Aggregated Impulse' indicator it calculates is currently 22%. It also explained that when this indicator reached the 15~25% range in the past, it acted as a signal that the market was near the bottom. Swissblock analyzed, "When the same signal activated in the past, Bitcoin rebounded on average 20~30% and altcoins rebounded 50~150%."

Swissblock forecasted, "Once this reset is completed, Ethereum and altcoins may lead the next cycle," adding, "It could be an opportunity for patient investors."