Ethereum

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2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/btc-dominance-signal-shifting-investors-interest-from-altcoin-to-bitcoin-here-is-why/">BTC Dominance Signal Shifting Investor’s Interest From Altcoin To Bitcoin, Here Is Why</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As the <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin Halving</a> is just 23 days away, bitcoin has begun to show its rise again. Following a period of decline, the cryptocurrency <a href="https://coinpedia.org/price-analysis/back-above-70k-bitcoin-eyes-a-breakout-run-to-cross-75k/">recaptured the $71,000</a> mark.&nbsp;</p> 
<p>In the meantime, crypto analysts Benjamin Cowen suggest that Bitcoin’s upward momentum signals a potential shift in market selection, with the cryptocurrency poised to draw liquidity away from altcoins as its dominance continues to soar.</p> 
<h2 class="wp-block-heading" id="h-weakening-alt-btc-pairs">Weakening ALT/BTC Pairs</h2> 
<p>Cryptocurrency analyst Benjamin Cowen foresees a surge in <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> dominance, expecting it to reach 56% shortly. He attributes this projected increase to the upcoming halving event, suggesting that liquidity from altcoins will flow into Bitcoin as the event draws closer.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">I think <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> dominance will surge to 56% in the coming weeks. The halving is next month, and I think liquidity from ALTs will go to <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>. <br><br>Thread <a href="https://t.co/gFWHCFjiir">pic.twitter.com/gFWHCFjiir</a></p>— Benjamin Cowen (@intocryptoverse) <a href="https://twitter.com/intocryptoverse/status/1772357602757767626?ref_src=twsrc%5Etfw">March 25, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Cowen also emphasizes the importance of monitoring ALT/BTC pairs, indicating that BTC may remain a preferred choice for investors until these pairs show signs of weakening. Currently, <a href="https://in.tradingview.com/symbols/ALTBTC/">ALT/BTC pairs</a> are at 47%, but a decrease to 39% or below could signal a local top for Bitcoin.</p> 
<p>Reflecting on historical patterns, Cowen notes that in both 2017 and 2021, Bitcoin experienced a local low in the latter half of March before rallying into April. This observation suggests a potential recurring trend in Bitcoin’s price movements during this period.</p> 
<p>Read More: <a href="https://coinpedia.org/news/ripple-vs-sec-ripple-faces-2-billion-fine-as-sec-seeks-penalties/">Ripple vs. SEC: Ripple Faces $2 Billion Fine as SEC Seeks Penalties</a></p> 
<h3 class="wp-block-heading" id="h-shift-in-eth-btc-ratio">Shift in ETH/BTC Ratio</h3> 
<p>Additionally, Cowen predicts Bitcoin’s strength will <a href="https://coinpedia.org/price-analysis/chatgpt-predicts-ethereum-etf-launch-could-propel-eth-price-beyond-7000/">surpass Ethereum</a> (ETH) in the coming weeks, potentially causing the ETH/BTC ratio to break down. He predicts that once the ratio falls to 0.03-0.04, it could stabilize at the 0.05 level until the end of the year, before rebounding.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
<p>Bitcoin has begun the week positively and is hovering <a href="https://markets.coinpedia.org/bitcoin/">around $70,404</a> and aiming to stay above the $70,000 mark.<br></p> 
<p>However, some <a href="https://coinpedia.org/price-analysis/bitcoin-price-back-above-70000-may-reach-82000-if-this-trade-plays-out-well/">analysts foresee</a>, that if the price remains above $69,000, the BTC/USDT pair could surge to the key resistance level of $73,777.&nbsp; While this level poses significant resistance, a successful breakthrough could propel the pair to $82,000</p> 
<p>Also Check Out The: <a href="https://coinpedia.org/news/do-kwon-released-from-montenegrin-prison-amidst-secs-house-of-cards-allegations/">Do Kwon Released from Montenegrin Prison Amidst SEC’s “House of Cards” Allegations</a></p>

BTC Dominance Signal Shifting Investor’s Interest From Altcoin To Bitcoin, Here Is Why

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