Bitcoin (BTC) and major altcoins such as Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE) continue to face strong selling pressure. While investors focus on when the decline will end, analysis platform 10X Research shared its current expectations. Stating that at this point, Bitcoin is following a “Diamond Top” pattern, which generally signals that prices may fall after a period of growth, 10X Research said that this pattern indicates that BTC could fall further and lose some of its gains since its rally in November. Noting that altcoins also experienced a major decline, but Ethereum took the biggest hit, analysts said that despite Eric Trump’s support for ETH, the sharp decline was mainly due to complex trading strategies such as option gamma hedging and futures liquidations, which can cause large price swings. Analysts stated that Bitcoin recovered after the sharp declines, but Ethereum could not, and said: “Bitcoin staged a partial recovery, but Ethereum did not. Interestingly, unlike Bitcoin, the large Ethereum sell-offs did not lead to strong recoveries, suggesting that the ETH price may still be under pressure.” Analysts have recently warned that Bitcoin and altcoins could experience further price declines in the short term, given the combination of weak technical signals and ongoing economic uncertainty. For now, analysts recommend that investors follow a wait-and-watch strategy, where they remain cautious and look for signs of a possible reversal. When Will the Altcoin Rally Begin? While 10X Research analysts predict that Bitcoin and altcoins may experience further declines in the short term, a similar analysis came from popular analyst Rekt Capital. Rekt Capital has highlighted the fundamental trends in Bitcoin Dominance (BTC.D), arguing that the altcoin rally will begin after the 71% peak of Bitcoin dominance is reached. At this point, the analyst pointed out that historically, Bitcoin Dominance has reached the 71% resistance level every time it has entered the 58-71% macro range. The analyst also added that during this period when Bitcoin dominance increases, a strong 5-10% pullback in altcoins is possible. “If history repeats itself, the real Alt season that everyone is waiting for will begin when Bitcoin Dominance is rejected from 71%.” *This is not investment advice. Continue Reading: What's Next for Bitcoin and Altcoins? When Will the Altcoin Rally Begin? Will There Be More Delays? Analysts Explain!
