{"id":25063,"date":"2024-12-20T13:37:16","date_gmt":"2024-12-20T13:37:16","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=25063"},"modified":"2024-12-20T13:37:16","modified_gmt":"2024-12-20T13:37:16","slug":"is-bitcoins-reign-ending-analysts-weigh-in-on-the-potential-rise-of-altseason","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/is-bitcoins-reign-ending-analysts-weigh-in-on-the-potential-rise-of-altseason\/","title":{"rendered":"Is Bitcoin’s Reign Ending? Analysts Weigh In on the Potential Rise of Altseason"},"content":{"rendered":"\n

Bitcoin (BTC) dropped from $108,135 on December 17 to $99,500 after remarks from US Federal Reserve (Fed) Chair Jerome Powell hinted at continued hawkish policies. Nevertheless, some crypto analysts are optimistic that a decrease in Bitcoin Dominance (BTC.D) could signal the start of an altseason.<\/p>\n

<\/span>Reasons Behind the Crypto Market Decline<\/span><\/h2>\n

In the last 24 hours, the total valuation of the cryptocurrency market has decreased by over 6%, predominantly affecting altcoins. In total, this amounts to a loss exceeding $200 billion.<\/p>\n

Powell’s comments about the Fed’s ongoing struggle with inflation prompted this market downturn. He suggested that only two interest rate cuts are expected in 2025, rather than the previously anticipated three.<\/p>\n

Moreover, the Fed raised its inflation forecast for 2025 from 2.1% to 2.5%, with the 2026 estimate also set at 2.1%, surpassing the target of 2%. This indicates that inflation concerns might linger for at least another two years, likely keeping interest rates elevated for longer than expected.<\/p>\n

The negative reaction in the crypto market led to liquidations exceeding $850 million within a day. However, some analysts view this downturn as a chance to purchase altcoins, anticipating a future decline in BTC.D.<\/p>\n

<\/span>Is Bitcoin Dominance on the Verge of a Drop?<\/span><\/h2>\n

Recent weekly charts show Bitcoin Dominance has been rising steadily over the past two weeks, climbing from 56.24% to 58.50%. Analysts believe that BTC.D may be forming a lower high, which could be followed by a significant drop and the onset of an altseason.<\/p>\n

<\/p>\n

On X, analyst Eric Crown shared insights regarding the BTC.D chart, suggesting it could decrease to 54% after a minor climb to 59%.<\/p>\n

Another analyst, @CryptoGoos, indicated that BTC.D has likely reached its peak. This trader predicted an altcoin season following a rejection of BTC.D from resistance levels between 58% and 59%.<\/p>\n

Bitcoin and stock analyst Seth also commented on BTC.D’s past performance in previous market cycles. He noted that BTC.D might consolidate at around 58% before experiencing a sharp drop.<\/p>\n

\"btc.d\"<\/p>\n

In addition, former BitMEX CEO Arthur Hayes expressed his view on the market, foreseeing a significant downturn around the inauguration of US President-elect Donald Trump on January 20, 2025. Currently, Bitcoin is priced at $100,978, reflecting a 3% decrease in the past day.<\/p>\n

\"bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) dropped from $108,135 on December 17 to $99,500 after remarks from US Federal Reserve (Fed) Chair Jerome Powell hinted at continued hawkish policies. Nevertheless, some crypto analysts are optimistic that a decrease in Bitcoin Dominance (BTC.D) could signal the start of an altseason. Reasons Behind the Crypto Market Decline In the last 24 […]<\/p>\n","protected":false},"author":14,"featured_media":25064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Is Bitcoin's Reign Ending? Analysts Weigh In on the Potential Rise of Altseason - Bitrabo","description":"Bitcoin (BTC) dropped from $108,135 on December 17 to $99,500 after remarks from US Federal Reserve (Fed) Chair Jerome Powell hinted at continued hawkish polici"},"footnotes":""},"categories":[316],"tags":[8314,3251,448,791,2912,5995],"class_list":["post-25063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-altseason","tag-analysts","tag-bitcoin","tag-dominance","tag-give","tag-react"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=25063"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/25064"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=25063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=25063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=25063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}