The Positive Impact of Bitcoin ETF Launches on Altcoins: A Promising Outlook

By Bernard Nicolai Jan 17, 202432Views

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Since the launch of spot-Bitcoin exchange-traded funds, altcoins have been outperforming Bitcoin. The ETF launches could be good news for altcoins as Bitcoin prices corrected 14% while altcoins remained resilient. Analysts believe that low BTC volatility is beneficial for altcoins as it creates confidence in an upward trajectory for the crypto market.

Bitcoin dominance has declined by 6% since the ETFs were launched, currently sitting just under 51%. On-chain analyst “Negentropic” predicts that altcoins are ready to fly and expects the market to double and triple in a matter of weeks to months.

The crypto markets experienced a 1.4% gain, with altcoins driving momentum. Ethereum, Solana (SOL), and Chainlink (LINK) performed well, showing positive gains.

However, analysts anticipate a market correction following the Bitcoin ETF approvals.

Hot Take: Altcoins Outperforming Bitcoin After ETF Launches

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Bernard Nicolai

Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard's insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension. Guiding both seasoned adventurers and inquisitive newcomers, Bernard's insights forge a compass for informed decision-making within the ever-evolving tapestry of cryptocurrencies. With the artistry of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.