Bitcoin Shows Potential for Further Growth Amid Cryptocurrency Divergence in 2024
2025-07-11 16:30:13
Main Idea
Bitcoin shows potential for further growth as it diverges from the broader cryptocurrency market, with fewer cryptocurrencies trading near their yearly highs compared to Bitcoin's past rallies.
Key Points
1. As of July 12, a minority of cryptocurrencies are trading within 5% of their 252-day peak.
2. During Bitcoin's record-setting rallies in February and November 2024, 75% and 40% of digital assets, respectively, were near their yearly highs.
3. The current decoupling between Bitcoin and the broader crypto market suggests potential upside for Bitcoin's price trajectory.
Description
Data from Sentimentrader, referenced by The Kobeissi Letter, reveals that as of July 12, a minority of cryptocurrencies are trading near their 252-day peak, defined as within 5% of their
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