Analyst Karapetjanc tracks 3% Bitcoin rise and altcoin rally
Crypto Market Analysis
The cryptocurrency market is glowing green today as bullish sentiment drives strong gains across the board.
Bitcoin (BTC) is up over 3%, with altcoins outperforming significantly, marking a resurgence of investor confidence. According to analyst Viktoras Karapetjanc, this surge aligns with his previously outlined bullish scenario.
Altcoins Take Center Stage
One of the most notable developments is the decline in Bitcoin dominance, which has dropped from 58% to 57.3% in recent days. Karapetjanc views this shift as a positive signal for altcoins, many of which are up between 5% and 10%. "The decrease in BTC dominance reflects growing interest and capital flows into alternative cryptocurrencies," he explained.
Major altcoins like Ethereum (ETH), Binance Coin (BNB), and Cardano (ADA) are leading the rally, with smaller-cap tokens also seeing significant price increases. This broad-based momentum suggests the altcoin market could continue to see robust growth in the coming days.
Optimistic Outlook for the Market
Karapetjanc’s bullish outlook is supported by his active investment strategy. "I remain highly optimistic about both Bitcoin and altcoins," he said, revealing that he has taken multiple buy positions to capitalize on the favorable market conditions. He emphasized that the current price action increases the likelihood of further gains, bolstered by strong technical setups and improving sentiment.
The broader market’s trajectory will depend on whether Bitcoin can sustain its upward momentum and whether altcoins can continue to outperform. For now, the cryptocurrency space appears poised for a period of heightened activity and growth, with Karapetjanc’s analysis providing a roadmap for traders.
Gold (XAU/USD) recently saw a sharp drop, sparking investor curiosity about its future direction. Analyst Karapetjanc suggests this may be a temporary setback linked to stop-loss hunting in Gold, rather than a full trend reversal.
