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A seasoned crypto trader is warning that the current bounce in the altcoin market will likely be short-lived. Pseudonymous analyst The Flow Horse tells his 266,500 followers on the social media platform X that he thinks crypto is still bearish and the latest rally will probably lead to another leg down. According to the analyst, the current bounce has not changed the bearish market structure of crypto. “Bearish still on the high time frame until proven otherwise. I can’t see any reason why this isn’t a relief rally and markets won’t continue to suck the next few months. Chart is still broken.” Elaborating on his bearish stance on crypto, the trader says on the instant messaging platform Telegram that the downtrend will likely persist unless Bitcoin (BTC) flips a key price area into support. “I think we are at the part where the correction can be, as I said the other day, one that is more through time than through price. I will be looking at ...

A closely followed analyst believes that crypto is gearing up to witness the highly anticipated altcoin season as the market gives off a reading seen only twice in eight years. Pseudonymous analyst TechDev tells his 493,800 followers on the social media platform X that altcoins are poised to outperform Bitcoin (BTC) based on historical data. The crypto strategist shares a chart to show that in 2017 and 2021, altseason happened when Bitcoin printed a new six-month candle after surpassing the cycle’s all-time high. “This has been the candle that altcoins make the moves many wait four years for.” Source: TechDev/X Looking at the trader’s chart, he seems to suggest that it takes 1,280 days after Bitcoin prints a cycle top before altcoins can go on a rampage. When the signal appeared in 2017 and 2021, Bitcoin Dominance (BTC.D) saw sharp declines for one year, giving altcoins a lot of time to outperform BTC. The BTC.D chart tracks how much of ...

Cryptocurrency technical indicators suggest the altseason is “just around the corner,” highlighted Ali Martinez, a prominent crypto analyst. This market phase will reward “dumb bulls” more than “smart bears,” according to a trader — but what does that mean? On September 21, the swing trader, who goes by Honey on X, made an interesting comment about crypto’s next steps. This perception aligns with what investors have experienced in previous market cycles when almost every cryptocurrency performs positively, punishing bears. “I think we are approaching the part of the cycle where dumb bulls will be rewarded more than smart bears.” – Honey (@honey_xbt) Picks for you Investor predicts crypto to $10 but dumps millions below $4 – Why? 3 hours ago ...

Experts at the investment bank Morgan Stanley believe that Bitcoin (BTC) and CBDCs can challenge the dollar . In a new Morgan Stanley report, analysts indicate that BTC could put the U.S. dollar ahead as a global currency, which accounts for about 60% of international foreign exchange reserves. Morgan Stanley’s head of digital assets, Andrew Peel, notes that this shift is significantly accelerated by the SEC approving a list of spot Bitcoin ETFs in the United States, with weekly inflows into new products exceeding $1.18 billion. Apart from this, BTC has seen constant growth over the past 15 years, and 106 million people worldwide currently own the cryptocurrency, adding that there are now Bitcoin ATMs in over 80 countries. You might also like: CBDCs could eventually replace cash, IMF indicates That being said, CBDCs from other countries could also impact the dominance of the US dollar , allowing for fast cross-border payments without the need for a common currency su...