Weekly Report (2) Continued
We see these cycles repeating themselves as Bitcoin reaches new ATHs ahead of most altcoins. ETH, BNB, and other high market cap coins are expected to reach new ATH soon. In order for this to happen seamlessly, market makers need Bitcoin prices to be slightly bullish and stable, and Bitcoin dominance to continue to decline, which is currently evident in the charts. The next 30-40 days are likely to be favorable for altcoins in terms of ROI and MC inflows, while we see Bitcoin bullish momentum slowing down, moving sideways in the golden bull zone between 64 – 80k, while altcoins prepare to rise higher. Bitcoin is expected to witness a period of bullish sideways movement in the medium term. To fully understand the bullish sideways idea for BTC, take a look at the arrow plotted on the BTC chart (top left)
Important inflation data will be released this week, with consumer price index (CPI) data on Tuesday and producer price index (PPI) data on Thursday. These releases may bring volatility, so please stay alert
