Is Bitcoin's Bull Run Over? Experts Offer New Analysis and Warnings
Bitcoin Bull Run Over? Experts Analyze and Warn of New Trend.
Is the Bitcoin and altcoin bull run coming to an end? According to the latest report from cryptocurrency analytics firm Alphractal , the correlation between Bitcoin (BTC) and altcoins is sending out a remarkable signal.
Warning From The Bitcoin – Altcoin Connection
Alphractal points out that altcoins are more closely correlated to BTC than Ethereum (ETH) .
Typically, when BTC and altcoins have a negative correlation , this can signal a risk of a trend reversal .
Historical data also shows that if BTC does not move in the same direction as ETH, this often leads to a major change in Bitcoin price trend.
Where Is Bitcoin In The Cycle?
Another metric that Alphractal tracks is the profitability of Bitcoin addresses . Currently, 90.8% of BTC wallets are still profitable , while 4.5% are losing money .
In previous bull cycles, the percentage of losing wallets sometimes exceeded 20% , but the market remained in a long-term uptrend.
In this cycle, the percentage of losing wallets only exceeded 20% in August and September 2024 , lower than in previous bull runs in 2017 and 2021 , indicating that the growth cycle is not over yet .
Conclusion: Does Bitcoin Still Have Room to Rise?
Based on current data, Alphractal believes that even if Bitcoin corrects and the number of losing addresses increases, it does not mean the bull market is over .
History shows that short-term price drops are just a natural part of a long-term uptrend.