20 hour ago
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Bitcoin Reclaims $93,000 Amid Resistance Warnings and Altcoin Outlook
Bitcoin's Recent Rally:
- Bitcoin has reclaimed the $93,000 mark, prompting mixed sentiments among experts about its future.
- Chris Beauchamp from IG notes cautious optimism among investors due to recent false recoveries.
- Bitcoin faces potential resistance at $100,000 and $107,000, influenced by descending moving averages.
- CryptoBullet suggests Bitcoin's cycle top may already have been reached last month above $126,000.
Altcoins' Performance:
- Altcoins have been underperforming against Bitcoin, indicating a possible bottoming out.
- The current situation is compared to September 2019, where altcoins hit cycle lows after Bitcoin's extended rally.
- Bitcoin's rally has lasted 35 months, while altcoins have been declining for over four years.
Future Projections:
- CryptoBullet forecasts a challenging correction for Bitcoin in 2026, possibly leading to a bear market.
- A potential altcoin bounce is anticipated in the next two to three months, possibly signaling a “mini altseason.”
- A significant altseason might occur in the 2027-2029 cycle.
Currently, BTC trades just above $93,000, with a 2% gain over 24 hours and 3% over seven days.