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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