2024

Bitcoin

Story

The Graph

<p>The leading cryptocurrency, Bitcoin, continues to power higher – now approaching within 20% of its former peak price above $68,600 printed over two years ago. According to market intelligence firm <strong><a href="https://twitter.com/santimentfeed/status/1762362402446962868" target="_blank" rel="noopener noreferrer nofollow">Santiment</a></strong>, Bitcoin surged to a high of around $57,250 as of February 2024 before falling to its current price of $56,412.</p>
<p>Bitcoin’s relentless recovery now brings it to the cusp of a hugely symbolic breakthrough. The implications of outpacing prior bull market valuations carry tremendous significance for broader sentiment and the technical outlook.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="770" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-1024x770.png" alt="" class="wp-image-444283" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-1024x770.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-300x226.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-767x577.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-1536x1155.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-2048x1540.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-199x150.png 199w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-100x75.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-465x350.png 465w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-994-788x592.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="alts-could-temporarily-lose-steam-if-bitcoin-dominance-climbs">Alts Could Temporarily Lose Steam if Bitcoin Dominance Climbs</h2>
<p>However, Santiment cautions traders that previous instances of Bitcoin crossing major resistance often subsequently sparked short-term mania into more speculative ‘altcoins’ as profits chased into the riskiest corners of the crypto complex, hunting further outsized gains.</p>
<p>But this time may prove different. If Bitcoin reclaims its throne by exceeding past rally highs, its market capitalization dominance over the entire industry could expand drastically, temporarily starving smaller alternative projects of liquidity as money pours back into the king of crypto.</p>
<p><strong>“If smaller traders try to beat whales to the punch and begin pumping <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="memecoins" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">memecoins</a>, don’t be surprised if Bitcoin dominance simply continues to grow,”</strong> Santiment warns. Periods of extreme Bitcoin-favoring risk often punctuate the middle stages of renewed bull markets.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="looming-industry-issues-could-pause-uptrend">Looming Industry Issues Could Pause Uptrend</h2>
<p>However, just as Bitcoin reaches escape velocity, Santiment also flags the unfortunate timing of exchange Bitforex silently halting all user withdrawals without explanation after over $56.5 million suspiciously vanished from custody.</p>
<p>As the researchers conclude, <strong>“depending on the level of concern the crowd conveys during the new price highs, there could be a temporary halt to this celebration.”&nbsp;</strong></p>
<p>Yet eventually, momentum should overpower fear. If historical patterns repeat, the path opens for Bitcoin to eclipse its former peak, reigniting even greater excitement that cascades across the now mature and globally interwoven crypto economy.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/why-is-the-crypto-market-up-today-9/" target="_blank" rel="noopener noreferrer nofollow">Why is the Crypto Market Up Today?</a></li>
 <li><a href="https://captainaltcoin.com/can-pepe-token-reach-a-new-all-time-high-analyst-says-pepe-will-outperform-all-other-meme-coins-here-is-why/" target="_blank" rel="noopener noreferrer nofollow">Can Pepe Token Reach a New All-time High? – Analyst Says $PEPE Will “Outperform” All Other Meme Coins – Here is Why</a></li>
 <li><a href="https://captainaltcoin.com/bonks-recent-surge-signals-more-highs-the-graph-and-rising-ai-altcoin-gain-investor-trust/" target="_blank" rel="noopener noreferrer nofollow">Bonk’s Recent Surge Signals More Highs; The Graph and Rising AI Altcoin Gain Investor Trust</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-hits-57250-as-interest-in-btc-surges-but-analyst-asks-to-keep-an-eye-on-this-major-negative-story/" rel="noopener noreferrer nofollow">Bitcoin Hits $57,250 as Interest in BTC Surges: But Analyst Asks To Keep An Eye On This Major Negative Story</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Hits $57,250 as Interest in BTC Surges: But Analyst Asks To Keep An Eye On This Major Negative Story

Table of Contents

CaptainAltcoin

Other articles published on Feb 27, 2024

Shiba Inu (SHIB) surges over 9% amid optimism, cuts a zero

Why does everyone think Trump Ethereum (ETH) sale moved into major staked Kelexo (KLXO) presale a...

Binance Offers Fee Waiver Promotion on Margin Trading

Cardano Sees Nearly 90% Surge in New Wallets: Adoption Skyrockets!

Binance Coin (BNB) Price Prediction for February 27

Rise of Solana-Based Meme Tokens

Join our free newsletter for daily crypto updates!