- A crypto trader recently warned traders of bullish altcoin/USD charts.
- The trader said that other traders had better allocate their capital to BTC.
- At press time, the price of BTC has risen over 6% to trade at $30,125.45.
Earlier today, well-known crypto trader Kaleo (@CryptoKaleo) took to Twitter to warn his followers. Kaleo kicked off its Twitter feed reminding people not to get tricked by bullish USD altcoin charts.
The analyst also said that the altcoin USD charts would look bullish at the moment given Bitcoin (BTC) breaking out. Additionally, Kaleo indicated that traders should instead check the altcoin BTC charts, which he said are currently showing unfavorable trends.
As a result, KALEO concluded his tweet by stating that traders better allocate the majority of their trading capital to BTC. Shortly after posting the tweet, the trader also commented on his post stating that the altcoin market is going to boom in 2024 and 2025, and traders and investors should just be patient.
At press time, CoinMarketCap reports that BTC has printed a gain of more than 6% over the past day and is currently changing hands at $30,125.45. The crypto market leader is also up over 7% in the past seven days.
The global crypto market capitalization increased by approximately 4.37% to bring the combined total market capitalization of the crypto market to $1.24 trillion. The past 24 hours has also seen BTC's market dominance increase by 0.83%. This increase pushed BTC's dominance to 47.02%.
BTC was also able to outperform the leading altcoin by market capitalization, Ethereum (ETH), by 2.98% in the past 24 hours. As a result, BTC is up 2.97% against ETH at press time. Finally, the trading volume for BTC has soared 93.19% in the past 24 hours. This brings BTC's total daily trading volume to around $23,925,513,096 at press time.
Disclaimer: Views and opinions, as well as all information shared in this price analysis, are published in good faith. Readers should do their own research and due diligence. Any action taken by the reader is strictly at his own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
The well-known post Crypto Trader Sends Bullish Alternative Charts Warning appeared first on Coin Edition.
See the original on CoinEdition
Get the news you want
Read market news with a personalized feed of the stocks you care about.
Get the app