Amberdata Analyst Discusses Bearish Trends in Altcoin Markets
Recent insights from Amberdata indicate a bearish trend in crypto markets, particularly for altcoins.
- Options trading volume for Solana peaked last month, suggesting it may have reached its price high.
- Unlimited supply of altcoins contrasts sharply with Bitcoin's fixed supply, impacting their value propositions.
- Gold prices are rising while other commodities increase, highlighting the hard money narrative.
- Bitcoin is anticipated to trade between $85,000 and $100,000 over the next two to three months.
- During this period, Bitcoin may gain dominance as altcoins experience a downturn.
- Significant volatility was noted in the price ratio of Ether to Bitcoin, indicating a shift in retail interest.
- The decline in SOL-BTC ratio post-inauguration day reflects a lack of retail flow.
- This market behavior suggests an impending speculative phase due to weak fundamentals in many altcoins.