Altcoins may outperform Bitcoin in the next few months
The Bitfinex Alpha report provides predictions on the potential performance of the cryptocurrency market. As Bitcoin's dominance declines and altcoins show resilience, the report indicates that market dynamics may change.
Analysts further explain that open contracts for altcoins have fallen 55% from their historical highs, suggesting a decrease in speculative activity and possible exhaustion of sellers. The ETH/BTC ratio is still below its 365-day simple moving average, indicating generally poor performance of ETH since consolidation.
The report adds that if Bitcoin's dominance has indeed reached a local peak, we might see a period where altcoins outperform the broader market in the coming months. If macroeconomic pressures ease, it could lay the foundation for bullishness in Q4.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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