Fun

Coinbase Sees Rising Altcoin Interest As Traders Prepare For Big Moves

News Feed - 2025-01-20 07:01:36

Este artículo también está disponible en español.


A popular cryptocurrency exchange platform foresees an outsized market rally for altcoins in the upcoming weeks after Donald Trump assumes the US presidency on January 20. A Coinbase analysis urged crypto traders to start positioning themselves in the altcoin space as a potential huge rally concerning altcoins is on the horizon. Related Reading Bitcoin Reserve In The US: 65% Chance It Happens In 2025 1 day ago Coinbase Reports Rise Of Altcoins


Coinbase crypto exchange suggested that the upcoming massive market rally for altcoins could be on the way and might happen in the succeeding weeks after Trump returns to the White House.


The crypto exchange released its latest weekly market commentary which provided its insights on Trump’s upcoming inauguration and its impact on the cryptocurrency landscape, saying that although the incoming American president is pro-crypto, it might take a while before “all planned crypto-related policies on the agenda” will be fully implemented.


However, Coinbase analysts noted that after Trump’s inauguration on January 20, they are expecting a surge in altcoins since, they believe, the digital asset space is preparing for a massive altcoin rally. Source: Coinbase Research


The crypto exchange’s report stated that crypto traders might be strategically positioning themselves to fuel another growth spurt for altcoins under the Trump administration.


According to Coinbase, the latest surge in altcoins is driven by a slight drop in the dominance of Bitcoin.


“The drop in BTC dominance from 58.5% to its support level of 57.3% during the inflation print relief rally on January 15 suggests to us that traders may be positioning for an outsized altcoin market rally on the back of positive catalysts for risk assets and crypto,” Coinbase explained in the report. Source: Coinbase Research BTC’s Fading Dominance


A crypto analyst observed that the dominance of the world’s most popular cryptocurrency, Bitcoin, could be slightly dipping, a circumstance that allowed the latest altcoin pump.


“Importantly for the long tail, $BTC dominance has been slowly fading since late November ’24 – fireworks if that continues,” VC firm Placeholder partner and former ARK Invest crypto lead Chris Burniske said. Importantly for the long tail, $BTC dominance has been slowly fading since late November ’24 – fireworks if that continues. pic.twitter.com/PyBWTwT8os


— Chris Burniske (@cburniske) January 17, 2025


In its insight report, Coinbase provided a possible price scenario for Bitcoin through the Deribit options contracts.



“The max paint point for Deribit BTC options expiring on January 31 and February 28, 2025 is $94K and $98K respectively. However, this drops to $80K for the March 28 expiry. While not a pure prediction of future price action, the max paint point suggests possible biases in market positioning by market makers and options sellers who may be hedging their liabilities,” the crypto exchange analysts said in the weekly commentary. Total crypto market cap currently at $3.5 trillion. Chart: TradingView Related Reading Dogecoin Bulls Eye $3 As Whales Scoop 200 Million DOGE In The Last 2 Days 2 days ago Stablecoin Inflows A Cue


Crypto analysts observed that stablecoins posted strong inflows, which Coinbase analysts David Duong and David Han suggested as an indicator that a bullish market could happen to altcoin.


The analysts added that a big chunk of stablecoins’ strong capital inflows went to altcoins while Bitcoin and Ethereum recorded outflows.


“Stablecoin supply – perhaps the most clear proxy for capital flows to these long tail assets in our view – increased by $1.3B last week, a continuation of trends we’ve observed over the past two months,” the Coinbase report said.


Coinbase also noted that BTC had a net outflow of $457 million while ETH’s net outflow was at $206 million.


Featured image from Pexels, chart from TradingView

News Feed

Bitcoin ‘dumb money sells’ as whales, sharks add 328K BTC in a month
William Suberg7 hours agoBitcoin ‘dumb money sells’ as whales, sharks add 328K BTC in a monthBitcoin big players seem ready to buy BTC at any price, while smaller market participants decrease exposure.4108 Total view
Ethereum Price Performance Could Hinge On This Binance Metric — Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Cryptowisser : China Crypto Ban Sheds Light on Over 15 Countries That Restrict or Ban Cryptocurrency
Cryptowisser : China Crypto Ban Sheds Light on Over 15 Countries That Restrict or Ban Cryptocurrency press release PRESS RELEASE. October 2021, leading Crypto service comparison sit
Brayden Lindrea8 hours agoBlockchain Association files support in suit to lift Tornado Cash sanctionsThe crypto advocacy group said OFAC must act within its statutory authority by sanctioning bad actors, not open-source
Fidelity amends Ether ETF Filing, discloses $4.7M in seed capital
Ana Paula Pereira6 hours agoFidelity amends Ether ETF Filing, discloses $4.7M in seed capitalBloomberg analyst Eric Balchunas anticipates that additional asset managers will update their filings on June 21, with Ether ET
More Regulations Proposed to ‘Streamline’ Mining Sector in Kazakhstan
More Regulations Proposed to ‘Streamline’ Mining Sector in Kazakhstan Authorities need to expand the regulatory framework for cryptocurrency miners, a member of the parliament
Bitcoin Dominance At Risk Of Crash To 40%, Why This Is Good For Ethereum, XRP, And Altcoins
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Analyst Sees Double-Digit XRP Price—The Catch? Recapturing 2017 BTC Peak
Este artículo también está disponible en español. Experts are thrilled about the chances that XRP, the cryptocurrency linked to Ripple, will hit new heights. Recent trend
Microstrategy Buys 660 More Bitcoins —Total Holdings Rise to 125,051 BTC
Microstrategy Buys 660 More Bitcoins —Total Holdings Rise to 125,051 BTC Nasdaq-listed Microstrategy has bought 660 more bitcoins at an average price of $37,865 per coin, bringin
Researchers Uncover Bitcoin ‘Attack’ That Could Slow or Stop Lightning Payments
The bitcoin lightning network could be vulnerable to a simple and disruptive attack, according to a recent research paper. Written by Saar Tochner, Aviv Zohar, and Stefan Schmid,
Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022
Vladimir Putin Says Russia Wrote Off African Countries" Debts Totaling Over $20 Billion in 2022 African countries’ debts totaling more than $20 billion were written off in th
Authorities in Germany, Bulgaria, Serbia, Cyprus Take Down Crypto Scam Network
Authorities in Germany, Bulgaria, Serbia, Cyprus Take Down Crypto Scam Network Authorities in Germany, Bulgaria, Serbia, and Cyprus have taken down a cryptocurrency scam network in