Bitcoin’s steady climb toward new highs is bringing about the usual breakout from legacy altcoins like LTC, BCH and XLM.
EOS, LTC, ETC and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume.
Experts say DOGE traders rotating profits into Robinhood-listed altcoins could be behind the rally in LTC, BCH and ETC.
After a sharp relief rally, Bitcoin price encountered resistance near $55,000, leading to a short-term pullback in select altcoins.
Open interest on Litecoin futures hit a record $584 million, a signal that institutional investors like Bitwise and Grayscale Investments are interested in the altcoin.
More than 53 blockchain projects have emerged as multi-billion dollar market cap crypto unicorns, a signal that the 2021 bull market is just getting started.
Bitcoin price continues to meet resistance at $19,500, a signal that further sideways action in BTC and altcoins is on the cards.
Bitcoin reclaimed the $19,000 level, but charts suggest BTC and altcoins may consolidate for a few days before starting the next trending move.
Bitcoin broke out to secure a new 2020 high at $19,863 and altcoins look ready to follow BTC higher.
Bitcoin’s recent correction is healthy, but several altcoins have lost momentum and could remain range-bound for a few days.