Bitcoin News: Traders Position for Altcoin Rally Post-Inauguration

Analysts from Coinbase and a prominent crypto venture capital firm are predicting a significant rally in altcoins following the inauguration of Donald Trump. This anticipation stems from a noticeable decrease in Bitcoin's dominance, which has dropped from 58.5% to 57.3%. This shift suggests that traders are increasingly focusing on altcoins, potentially preparing for a surge in the altcoin market under the new administration. The analysts believe that this trend indicates a growing momentum in the altcoin sector, which could lead to substantial gains for investors who position themselves accordingly.

Traders Positioning for Altcoin Rally Post-Inauguration

Analysts from Coinbase and a crypto venture capital firm anticipate a significant rally in altcoins following the inauguration of Donald Trump. This expectation is based on the observed decrease in Bitcoin's dominance, which dropped from 58.5% to 57.3%, suggesting a shift in trader focus towards altcoins. The analysts believe that this shift indicates traders are preparing for increased momentum in the altcoin market under the new administration.

Bitcoin Surges Back to $105k

The BTC price dropped to around $90,000 earlier this month before reclaiming $100,000 on Thursday. Since then, the prices have continued to surge, hitting a high of $105,900 on Friday. The surge in Bitcoin's price coincides with the launch of Trump’s new meme token, which has stirred the Bitcoin and overall crypto community. Crypto investor and Youtuber Anthony Pompliano advised investors to 'buckle up,' indicating that financial markets were not prepared for what was to come. The meme token’s market cap was close to hitting $8 billion at launch and has now climbed to nearly $9 billion. CNBC crypto trader Ran Neuner remarked that the Trump meme coin is real and that this is just a taste of what we can expect for the next four years.

Bitcoin NVT Golden Cross Nears Local Bottom – Here’s What It Means

Crypto analyst Burak Kesmeci has recently shared a bullish prediction on Bitcoin (BTC), suggesting that the cryptocurrency may be on an uptrend for the foreseeable future. The Bitcoin NVT Golden Cross metric, which is a more advanced version of the Bitcoin Network Value to Transaction (NVT) ratio, indicates that Bitcoin is nearing a local bottom, potentially securing a price uptrend. The NVT ratio compares Bitcoin's market cap to its transaction volume to assess whether the asset is overvalued or undervalued based on network activity. Currently, BTC is trading around $104,000, showing little movement over the past day but having recovered strongly in the past week.

Thailand to Launch Crypto Sandbox This Year

Thailand is set to launch its crypto sandbox this year, marking a significant turning point for the country. Shinawatra highlighted Thailand's strong position in the crypto industry, attributing part of the industry's boost to the support from the United States President-elect Donald Trump. The crypto industry, including Bitcoin, saw a rally following Trump's election victory. Thailand is actively pursuing growth in the crypto sector and has been engaging in extensive talks with other countries in the ASEAN region to foster economic collaboration and innovation in the crypto space.

Bitcoin Gold Ratio Multiplier Identifies Vital $111,000 Resistance – Details

Bitcoin (BTC), the flagship crypto asset, is currently trading above $104,000 after a significant 10.98% price rally in the last week. Despite recent sideways movements following a rejection in the $105,700 zone, certain trading indicators suggest that this uptrend is likely to continue, potentially leading to new price discovery. Renowned crypto analyst Burak Kesmeci recently shared a forecast on the BTC market based on the Bitcoin Gold Ratio Multiplier. This tool measures the relationship between BTC’s price and the value of gold, offering insights into market sentiment and price momentum. It is used to assess BTC's valuation relative to gold and can identify potential mean reversion points.