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A closely followed crypto analyst says altcoins may start outperforming Bitcoin (BTC) if three events occur in the coming months. In a new interview with host of the Milk Road Macro podcast John Gillen, crypto trader Benjamin Cowen says a new all-time high for Ethereum (ETH) may signal the start of an altseason. “ We need a $5,000 ETH for Ethereum to get to all-time highs … a lot of these major moves in the markets, the ‘altseason,’ typically happen after Ethereum goes to all-time highs – not before. You could argue that one of the reasons altcoins have lagged so much this cycle is because Ethereum only just hit an all-time high back in August. But normally the August high is a local top that then leads to a local low in September or early October.” Cowen also says that for Ethereum to hit at least $5,000, Bitcoin will first need to print new all-time highs, which is possible if the Bitcoin dominance (BTC.D) surges. BTC.D track...

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A closely followed crypto analyst says Ethereum (ETH) may be gearing up for a massive breakout against Bitcoin (BTC). In a new strategy session, trader Michaël van de Poppe tells his 733,600 followers on the social media platform X the Ethereum/Bitcoin pair (ETH/BTC) is showing a bullish divergence on the daily chart. A bullish divergence, which suggests price will start to increase, occurs when the price of assets records lower lows while indicators, such as the Relative Strength Index (RSI), a momentum oscillator indicator, are witnessing higher lows. “A massive bullish divergence on ETH. The entire Ethereum ecosystem thriving [on November 6th].” Source: Michaël van de Poppe/X In an update, the analyst says that ETH/BTC is starting to take off as it seems investors are rotating profits from Bitcoin’s massive rally into alts like ETH. “That’s it. The markets are rotating, as ETH has a massive bounce upwards. Next step? Create a hi...

In the last 20 days, Bitcoin (BTC) has lost four percentage points of its cryptocurrency market dominance , fueling an alt season . A dominance loss means key cryptocurrencies are outperforming the leader, absorbing capital. Notably, these events are also known as altcoins’ rallies, or ‘alt season s’, if they overextend for a larger time frame. Cryptocurrency traders usually migrate part of their gains to these altcoins, expecting to profit from their higher volatility, fuelling an alt season . In particular, the Bitcoin Dominance Index (BTC.D) is one of the most used indicators to signal this season . The index is calculated by dividing Bitcoin’s market cap by the total capitalization. Therefore, the decrease in BTC.D means investors are deploying more capital to other cryptocurrencies than BTC. As of writing, the index has aggressively plummeted to 51.43% after breaking down from November’s low at 51.82%. Bitcoin’s dominance has not been this low since October 16, which marks a...