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

Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites ‘Recent Revelations’
Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites "Recent Revelations" Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelatio
BNB Was the Top Ten’s Best Market Performer in Q2, Bitcoin Takes Second Place — Solana Performed the Worst
BNB Was the Top Ten"s Best Market Performer in Q2, Bitcoin Takes Second Place — Solana Performed the Worst With the first half of the year gone, statistics from the second quarte
Alium Finance Introducing Hybrid DEX Liquidity to Address Liquidity Limitations, Trade Your Favorite Crypto With Unlimited Liquidity
Alium Finance Introducing Hybrid DEX Liquidity to Address Liquidity Limitations, Trade Your Favorite Crypto With Unlimited Liquidity press release PRESS RELEASE. Using the latest De
Ethereum vs Tron: Comparing Data, Defi and Stablecoins from Both Chains After Viral Tweet
Ethereum vs Tron: Comparing Data, Defi and Stablecoins from Both Chains After Viral Tweet On February 7, Cold Card and Opendime creator, Rodolfo Novak (also known as NVK), tweete
SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries
SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importan
Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges
Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges During the last week, the crypto community has been dealing wi
Ethereum Transaction Fees Fall 82%, as Defi Hype Eases
Ethereum Transaction Fees Fall 82%, as Defi Hype EasesThe average cost of sending a transaction over the Ethereum blockchain has fallen by 82% from a September 2 peak of $11.61, dow
Nigerian officials drop some charges against detained Binance exec
Vince Quill8 hours agoNigerian officials drop some charges against detained Binance execThe next court dates in Tigran Gambaryan’s case are scheduled for June 19–20, according to a family spokesperson.1352 Total view
Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion
Coinbase Files for IPO via Direct Listing on Nasdaq — Valuation Soars Above $100 Billion Cryptocurrency exchange Coinbase has filed for an initial public offer
The Vacate Manifesto: How Today’s Technology Can Solidify Abolitionist Goals
The Vacate Manifesto: How Today"s Technology Can Solidify Abolitionist Goals20 years ago the cypherpunks of the new internet era came up with vast ideas describing privacy, anonymit
If Bitcoin Passes $14K, Analysts Say Traders ‘Should Look to $20,000’ Instead of Looking Back
If Bitcoin Passes $14K, Analysts Say Traders "Should Look to $20,000" Instead of Looking Back While bitcoin prices touched all-time 2020 highs on Tuesday, a few
Elon Musk Says Twitter to Charge $8 per Month for Blue Checkmark Verification — Plans to Reward Content Creators
Elon Musk Says Twitter to Charge $8 per Month for Blue Checkmark Verification — Plans to Reward Content Creators Tesla, Spacex, and Twitter boss Elon Musk has decided to charge $