Bitcoin’s Crossroads: Surge or Altcoin-Driven Dip?
Crypto 7 days ago
Bitcoin’s recent all-time high of $124,500 has ignited fierce debate about its next phase, with Jan3 CEO Samson Mow presenting two stark possibilities. The cryptocurrency could either ’Godzilla up’ and dominate market liquidity, crushing altcoins by 30-40%, or succumb to an altcoin frenzy that temporarily drains Bitcoin’s momentum. Mow highlights the unsustainable disparity between Ethereum’s valuation and Bitcoin’s, noting that 4.6 million BTC worth of ETH ’has to correct’ eventually.
The analyst observes peculiar market psychology differences between Bitcoin and Ethereum. While Bitcoin steadily climbs despite its own all-time highs, ETH faces intense selling pressure near peak prices. This dynamic has fueled Ethereum’s 58% monthly surge against Bitcoin’s modest 3.5% gain. However, Mow warns that altcoins’ overheated performance and Bitcoin’s declining dominance - now below 60% for the first time since January - could trigger a dramatic market rebalancing.
Historical patterns suggest Bitcoin’s weakening dominance often heralds ’altseason,’ but Mow cautions this cycle may differ. The potential for Bitcoin to either absorb all market energy or experience a short-term pullback creates unprecedented uncertainty. As traders navigate these extremes, the crypto market stands at its most volatile crossroads in years, where traditional patterns may no longer apply.