Is there any possibility that the bull is finished in Bitcoins and subcoins? The analysis company discussed concerns, shared technical details!

Crypto para Analysis firm Alphractal, altcoin He gave information about the ongoing market cycle by shedding light on the correlation and Bitcoin’s current market position.

According to Alphractal’s latest statement, Altcoins Bitcoin (BTC) with Ethereum’a (ETH) It has a stronger correlation compared to. Historically, the negative correlation between BTC and subcoins usually moved as a warning sign and showed that the potential risk or trend on the market reverses. This dynamic serves as a sensitivity indicator for both traders and investors.

The company also said that although the Ethereum network tends to have a more organic relationship with ETH, Ethereum’s market behavior remained less consistent than other subcoins.

The historical analysis of BTC-ETH correlation in an eight-week (two-month) period reveals an interesting tendency. When the correlation between the two assets is low, BTC tends to disrupt the momentum of ETH. In many cases, there is a significant change in the trend of Bitcoin following the periods when ETH cannot follow the BTC movements.

Alphractal also said that 90.8 %of Bitcoin addresses are still in profit. In the meantime, 4.5 %of the addresses are damaged and the remaining percentage remains neutral. In the previous bull cycles, the company said that the percentage of the addresses in the damage sometimes exceeded 20 %, but the wider market trend remained as a bull.

In the current cycle, the losses exceeded only several times, especially in August and September 2024. Compared to this, in previous bull cycles such as 2017 and 2021, this metric was broken many times without pointing out that the market rise trend ended.

Based on these data, Alphractal argues that even if Bitcoin suffers more corrections and a higher percentage of addresses is in a loss position, it does not necessarily show that the bull cycle ends. Historically, short -term decline tendencies in a wider bull cycle were a natural event.

*It is not an investment advice.