$BTC Analyzing the monthly BTC chart, one can observe the construction of a classic pattern of ascending peaks and troughs, indicating an attempt to consolidate a new price base above the last relevant support. The technical structure suggests maintaining the long-term upward trend, with the potential to seek new all-time highs still in 2024.
Bitcoin's dominance also remains high, reinforcing its status as the main capital-receiving asset in the crypto segment at this moment. This behavior is typical in the early phases of a recovery cycle, where institutional and retail capital seek safety before venturing into more volatile assets.
Capital migration from gold to Bitcoin
The recent weakening of gold, a traditional protective asset, coincides with the consolidation structure of BTC. Investors are reassessing the attractiveness of gold after its recent performance and are starting to pay more attention to Bitcoin as a modern alternative store of value. The movement signals a portfolio rotation in which Bitcoin begins to compete for prominence with gold as a strategic asset.
If this migration gains strength, the price of BTC could quickly seek the $90,000 range, breaking through the psychological barrier of previous all-time highs. This movement, in turn, often precedes the start of a strong appreciation phase for altcoins.
Altcoins are preparing for the "stampede"
The analysis of internal correlation in the crypto market suggests that after Bitcoin reaches its peak and begins to lateralize or correct, a significant portion of capital tends to migrate to altcoins, especially those that present reversal patterns against BTC. It is not about comparing altcoins in dollars, but rather identifying which pairs against BTC demonstrate greater relative strength.
source of the Article:
https://istoedinheiro.com.br/o-que-esperar-para-o-bitcoin-com-o-ouro-rondando-maximas-historicas/
