The co-founders of crypto analytics firm Glassnode have predicted a potential rally in Altcoins, just in time for the holiday season.
What Happened: Jan Happel and Yann Allemann, who are known as Negentropic on social media X, have shared their insights. They suggest that Altcoins could outshine Bitcoin (CRYPTO: BTC) in the coming weeks.
The Glassnode co-founders have been keeping a close watch on the Bitcoin Dominance (BTC.D) chart, which indicates the percentage of the total crypto market cap that Bitcoin represents.
They propose that the BTC.D has turned bearish, which could potentially set the stage for altcoins to appreciate in value at a faster rate than Bitcoin.
Christmas Rally Incoming?
—
Bitcoin dominance has been rejected at the upward trendline—is this the setup for a Christmas rally in altcoins?
For this to happen:
Bitcoin needs to consolidate above $100K.
A period of sideways movement could allow altcoins to gear up for a... pic.twitter.com/6Y3xvEQOeG
