Bitcoin (BTC)
$
At the time of writing, the price of Bitcoin (BTC) has fallen to $97,400, halting its attempts to reach $98,700. This decline in price is not encouraging for altcoins. So, what can we expect for altcoins? How much will APT Coin be worth? Let’s explore various market analyses today.
The surge in altcoin prices relies heavily on Bitcoin’s dominance in the market. Bitcoin’s market dominance ratio, known as BTC.D, is decreasing, and this is seen as a positive sign for altcoins. Traders closely monitor this ratio for indications of altcoin strength. A crypto analyst named Nuevo offered insights on BTC.D, stating:
“Here we go… Is it happening?
A slight deviation above the red line at 61.55% (rising to 61.83%) suggests a potential reversal, indicating a downward trend of at least 52% and a possibility of reaching 48%. The next key observation should be the EMA50 break on the weekly chart.”
Crypto Bullet also shared thoughts specifically on APT Coin, stating that if BTC.D eases, the current formation could target $22.
Now let’s turn our attention to Bitcoin (BTC) itself. The short-term outlook indicates uncertainty in low-volume markets over the weekend. The price of BTC is nearing the $97,000 support level, which is discouraging for altcoins. If panic selling occurs, the weekend could end poorly for cryptocurrencies.
Analyst Daan Crypto Trades, who shared the above chart, mentioned that investors still have time to seek excitement.
“Some volatility could have been expected in altcoins, but even this part of the market has been quite slow this weekend. It will take a bit more time for the markets to regain momentum after the holidays. Once everyone returns to their posts, with economic data emerging again, I believe next week will be interesting, with the first full trading week of 2025.”
In the coming days, we will see various significant data released, from Fed minutes to employment figures.
