Ethereum

Bitcoin

Standard

Grayscale Bitcoin Trust

Spot

<p>The post <a href="https://coinpedia.org/news/analyst-warning-bitcoins-ath-break-could-overshadow-altcoin-market/">Analyst Warning: Bitcoin’s ATH Break Could Overshadow Altcoin Market</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Bitcoin market continues to dance around the $70,000 level. As we are trying to sort out where we are going next. Prominent crypto trader “Crypto Tony” has shared a crucial piece of advice for the crypto community. </p> 
<p>As Bitcoin approaches its all-time high (ATH), Tony warns that this milestone could momentarily shift investor focus back to Bitcoin, potentially setting back altcoins in the short term.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Once <a href="https://twitter.com/hashtag/Bitcon?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcon</a> breaks the ATH this may setback <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> as attention goes back to <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> in the short term <br><br>Just something to be cautious of</p>— Crypto Tony (@CryptoTony__) <a href="https://twitter.com/CryptoTony__/status/1793607307013800300?ref_src=twsrc%5Etfw">May 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-bitcoin-to-breaks-the-ath">Bitcoin To breaks the ATH</h2> 
<p>Bitcoin’s performance often dictates the broader cryptocurrency market’s trends. With Bitcoin <a href="https://coinpedia.org/news/bitcoin-to-consolidate-near-68k-before-surging-to-new-ath-analysts-predict/">price nearing its ATH</a>, there’s a growing expectation of renewed investor interest and capital flow towards BTC. Yesterday, spot Bitcoin ETFs saw a total net inflow of $154 million. Notably, the Grayscale Bitcoin Trust (GBTC) ETF experienced an outflow of $16.0914 million.&nbsp;</p> 
<p>Additionally, BlackRock’s iShares Bitcoin Trust (IBIT) witnessed a single-day inflow of $91.9527 million, while Fidelity’s FBTC ETF saw an inflow of $74.572 million. Ark Invest’s ARKB also recorded an inflow of $3 million on the same day.</p> 
<p>Meanwhile, Bitcoin’s dominance is expected to surge, <a href="https://in.tradingview.com/symbols/BTC.D/">currently hovering at 54.12%,</a> reflecting a slight decrease in the Sentiment. This focus could temporarily overshadow altcoins, leading to potential setbacks for growing digital assets as attention shifted back to Bitcoin.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-caution-advised-for-altcoin">Caution Advised For Altcoin</h2> 
<p>Crypto Tony’s tweet emphasizes the need for <a href="https://coinpedia.org/news/altcoin-season-predicted-to-begin-soon-as-bitcoin-bulls-take-control-top-altcoins-to-watch/">caution among altcoin</a> investors during this period. Historically, significant movements in Bitcoin’s price can create volatility in the altcoin market. As Bitcoin garners more attention, altcoins might experience a dip in buying pressure and price corrections.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-aim-for-150k">Bitcoin Aim For $150k</h2> 
<p>Adding to the anticipation, Geoff Kendrick, Head of EM FX Research at Standard Chartered, offers a bullish prediction for Bitcoin. Kendrick foresees a breakout above the previous ATH, projecting Bitcoin’s price to surge to approximately $73,798.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Standard Chartered's Geoff Kendrick says <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is still on track to reach $150,000 by the end of the year <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/xCOXKiH08g">pic.twitter.com/xCOXKiH08g</a></p>— Waivly (@Waivly) <a href="https://twitter.com/Waivly/status/1782853662554870205?ref_src=twsrc%5Etfw">April 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>kendrick highlights the potential impact of <a href="https://coinpedia.org/news/ethereum-etf-decision-approaches-what-will-happen-to-eth-prices/">Ethereum Spot ETF approval</a> by the SEC on Bitcoin’s price dynamics. He repeats his bullish prediction, anticipating Bitcoin to reach $150,000 by 2024 and a staggering $200,000 by 2025.</p> 
<p>While Bitcoin’s rise may temporarily impact altcoins, maintaining a balanced perspective and strategy can help navigate these fluctuations.&nbsp;</p>

Analyst Warning: Bitcoin’s ATH Break Could Overshadow Altcoin Market

Table of Contents

CoinPedia News

Other articles published on May 23, 2024

Render “Extremely Bullish” Despite Recent Sell-Off: Expert Reveals One More RNDR Dip Expected Bef...

Bitcoin ETF: Record $305M Inflows, BlackRock’s BIT Leads

Ethereum Exchange Netflows Highest Since March: Can ETH Survive This Selloff?

Shiba Inu (SHIB) 485% Netflow Surge Takes Intriguing Twist: Details

Is It Too Late To Buy CORGIAI? CorgiAI Price Skyrockets 84%, But Analysts Prefer this AI Meme Coi...

Bitcoiner raises the orange flag on Mount Everest

Join our free newsletter for daily crypto updates!