A widely followed crypto analyst takes a look at the top two digital assets by market capitalization after the historic US approval of Bitcoin spot (BTC) exchange-traded funds (ETFs).
“The Bitcoin ETF is approved and operational.
The previous rally aimed to “buy the rumor, sell the news”.
Now reality is kicking in and Bitcoin is stabilizing, consolidating and opening the doors for Ethereum to reach $3000-3500 and altcoins to run strongly.
After: correction in March.
Van de Poppe interpretation Bitcoin Dominance (BTC.D) chart, a measure of BTC’s share in crypto markets, supports his suggestion that Bitcoin is about to calm down while ETH heats up.
“Bitcoin’s dominance appears to have peaked before the Bitcoin halving.
We expect to see a continuation as Ethereum gains more momentum.
This could be the peak of the dominance cycle as the altcoin bull market has begun.
BTC is worth $44,413 at the time of writing, down 5% in the last 24 hours.
According to crypto analyst, the imminent arrival of Ethereum rally could take the leading smart contract platform to the $3,500 range.
“Ethereum toppled the crucial level at $2,130 to continue.
After that, breakout to new cycle highs at $2,700 and look for continuation to $3,500 in the next 2-3 months.
Van de Poppe too predicted This topic of conversation will dominate the discussion around crypto over the next couple of months, just as the topic of a BTC ETF dominated over the previous two months – the possibility of an ETH ETF.
“BlackRock CEO Larry Fink Sees Value in Ethereum ETF.
Yes, this will be the subject of the next two months.
Ethereum is worth $2,642 at the time of writing, up 18% in the past week.
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